My ex is to refinance & give me 50% of current equity, is it typical to minus 1/2 of Realtor/closing fees? 15 Answers as of April 15, 2013

My divorce is almost complete. My ex plans to refinance to stay in the house. Her lawyer is arguing they will pay me half of the equity, but only after they subtract half of what a Realtor would be paid to sell it and half of costs to prepare the house for sale. Is this standard, or am I entitled to half of current equity as it is?

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Law Offices of Arlene D. Kock
Law Offices of Arlene D. Kock | Arlene D. Kock
If there is no sale, there are no commission fees to deduct.
Answer Applies to: California
Replied: 11/30/2012
Diana K. Zilko, Attorney at Law
Diana K. Zilko, Attorney at Law | Diana K. Zilko
It's a nice argument, but if the house is not going to be sold, those fees are not going to be incurred.
Answer Applies to: California
Replied: 11/29/2012
Dunnings Law Firm
Dunnings Law Firm | Steven Dunnings
Depends on your lawyer.
Answer Applies to: Michigan
Replied: 4/15/2013
Law Offices of Frances Headley | Frances Headley
While it is common to split costs actually incurred, it would be unusual for the court to order the payment of fees that are not being incurred. You may need to go back to court for clarification of the order.
Answer Applies to: California
Replied: 11/29/2012
Victor Varga | Victor Varga
Realtor commission shouldn't be factored in if one wasn't used, and no realtor commissions are being paid. Same goes for the costs to prepare the house for sale. If no costs were expended for that purpose, you don?t owe for that. You should get 1/2 of the equity, period.
Answer Applies to: Maryland
Replied: 11/29/2012
    Elizabeth Jones, A Professional Corporation
    Elizabeth Jones, A Professional Corporation | Elizabeth Jones
    That attorney is dead wrong.
    Answer Applies to: California
    Replied: 4/15/2013
    John E. Kirchner, Attorney at Law
    John E. Kirchner, Attorney at Law | John Kirchner
    If you and your husband cannot agree it will be up to the judge to decide based on all the facts and circumstances. Generally, in Colorado the costs of sale (realtor fees, etc) are only deductible in computing the division of sale proceeds when there is actually a sale.
    Answer Applies to: Colorado
    Replied: 11/28/2012
    LAW OFFICE OF ANNE B. HOWARD | Anne B. Howard
    They are misleading you. If your wife wants the house, she has to pay you 1/2 of the equity - no reduction for closing costs.
    Answer Applies to: California
    Replied: 11/28/2012
    John Russo | John Russo
    No, first of all the house is not being sold you cannot add or subtract theoretical cost, you are entitled to 50% of the equity in the home based on the appraised value. He is buying it is not being sold, you could argue that you believe that on the open market the house could bring more money then the buy out, do you have a lawyer? if not don't buy that argument, in the end the house is not being sold, if thats the case then tell them you will take your chances on the open market and pay 1/2 the cost, he is buying as is and if you have a judge with half a brain they won't buy this either, also if you have a lawyer give them a swift kick in the a_s, because this argument is baseless, they want to charge you for something that is not happening, because it could happen, if you were not doing, what you have agreed to do, makes perfect sense to me.
    Answer Applies to: Rhode Island
    Replied: 11/28/2012
    The Davies Law Firm, P.A.
    The Davies Law Firm, P.A. | Robert F. Davies, Esq.
    You need a lawyer to help you with this. Please get a divorce attorney to protect you, and help you to get the best result possible. There is no realtor but they want you to pay half of a realtor anyway.
    Answer Applies to: New Jersey
    Replied: 11/28/2012
    Sapiro Gottlieb & Kroll | Lawrence Kroll
    It is a subject for discussion, but unless they are ACTUALLY selling the property, I don't see why your Husband should get the "extra" equity. Usually, I advocate splitting the actual equity.
    Answer Applies to: New Jersey
    Replied: 11/27/2012
    Law Office of Eric S. Lumberg | Eric S. Lumberg
    It is common to split the closing costs of any sale but since your ex is refinancing, she should incur those costs. Of course, having a lawyer represent you and your best interests is always best. It is possible to negotiate that issue.
    Answer Applies to: Michigan
    Replied: 11/27/2012
    R. Jason de Groot, P.A
    R. Jason de Groot, P.A | R. Jason de Groot
    This does not appear practical, because no realtor is going to be paid, and the house is not going to be repaired to be sold.
    Answer Applies to: Florida
    Replied: 11/27/2012
    Hammers & Baltazar, LLP
    Hammers & Baltazar, LLP | Barbara K. Hammers
    The realtor fees/closing costs are only charged if there is actually a sale. If it is a refinance to buy you out, you should get the entire share, not minus fees and costs for a "sale" that is not happening.
    Answer Applies to: California
    Replied: 11/27/2012
    Langford Law Firm
    Langford Law Firm | Theresa Langford
    It would be my position that you are entitled to half of what the actual equity is; NOT half of what it would be if unknown events were to take place, that in fact did not take place. If there was an actual sale that included additional fees, then you should absorb your half. If there are no realtor fees involved, then there should be no deduction for it.
    Answer Applies to: Texas
    Replied: 11/27/2012
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