Selling the house - Price Disagreement

Our separation agreement states only that we will sell the marital residence after our son graduates from high school…that has long passed. The house has been on the market now for over 4 months without any offers or much interest at all. I am paying the mortgage and the required utilities to keep it maintained. I would like to lower the asking price to make it salable. My ex is refusing to agree because she wants more of a return. She has nothing at stake in waiting it out, but I am spending a fortune each month and basically have my life on hold until I can get out from under this massive financial burden. What legal options do I have to control my situation? I can’t keep paying this mortgage every month while we wait for a buyer who wants this overpriced house.

Oftentimes separation agreements have terms included about setting a selling price, lowering the asking price, accepting/rejecting offers, etc. Reread your separation to see if these terms are included. If so, you would follow these terms about how to reduce the asking price.

If these terms are not included, then you would need to workout this issue with your ex-wife. If you have a realtor, and your separation agreement does not say otherwise, see if you and your ex-wife can agree to follow the recommendations of the realtor as to the asking price.

If the two of you cannot agree to new terms, then you can employ a mediator or arbitrator to help resolve this issue.


Anna Ayscue

Attorney with Rosen Law Firm Cary • Chapel Hill • Durham • Raleigh • Wake Forest

Rosen Online | Unlimited confidential access to a North Carolina attorney for $199/mo - click here

The response posted above is based upon the limited factual information made available and is not intended as a full and complete response to the question. The only reliable manner to obtain complete and adequate legal advice is to consult with an attorney, fully explain your situation, and allow the attorney sufficient opportunity to research the applicable law and facts required to render an accurate opinion. The basic information provided above is intended as a public service only, a full discussion with an attorney should be undertaken before taking any action. The information posted on this forum is available for public viewing and is not intended to create an attorney client relationship with any individual. These answers are provided for informational purposes only, a person should consult with their own individual legal counsel before taking any action that could affect their legal rights or obligations.

Our separation agreement does not contain detail about setting the price or modifying the price based on the market. It simply states that the house will be sold after the (then) minor child graduates from High School.

What I hoped to do was to initiate a suit for breach of contract claiming that by refusing to modify the price in light of the market feedback that is indicating it is too high, she is preventing the house from being sold as promised in the agreement. As damages, I would include my cost for the ongoing mortgage, taxes, and homeowner’s insurance; as well as the utilities that are required to maintain the home and to allow it to continue to be marketable (electricity, gas, water, etc.).

We are entering into the time of year when the house is more likely to sell, thus, time is of the essence in this very cold-housing-market area.

To file for breach of contract there would need to be clear terms that your ex-wife has violated. Based on the information provided, I’m not sure that you would be able to do this since there are no clear terms that require her to work with you to modify the asking price.


Anna Ayscue

Attorney with Rosen Law Firm Cary • Chapel Hill • Durham • Raleigh • Wake Forest

Rosen Online | Unlimited confidential access to a North Carolina attorney for $199/mo - click here

The response posted above is based upon the limited factual information made available and is not intended as a full and complete response to the question. The only reliable manner to obtain complete and adequate legal advice is to consult with an attorney, fully explain your situation, and allow the attorney sufficient opportunity to research the applicable law and facts required to render an accurate opinion. The basic information provided above is intended as a public service only, a full discussion with an attorney should be undertaken before taking any action. The information posted on this forum is available for public viewing and is not intended to create an attorney client relationship with any individual. These answers are provided for informational purposes only, a person should consult with their own individual legal counsel before taking any action that could affect their legal rights or obligations.