[musashi]

Guys in the area, Im hoping theres a few real estate pros that can give me some insight/guidance as to what to do here with my situation:
-Met her in 2013, already owned and still do own my house in Calgary
-We bought the house in edmonton area together in May 2014 right before the crash
-We paid 360k plus around 8k for cmhc fees, both names go on title
-I put 21k down she put 15k down
-May 2015 I fire her ass (turns out she's a psycho nut job)
-I move out of the home in sept 2015 and move back into my calgary home
-Dec 2015 she tells me her only plan is for me to keep paying half, but Im not allowed access to the home
-March 2016 I hire a lawyer, option one- she buys me out (pay me back my 30k that has gone towards principle thus far option two- I buy her out option 3 - forced sale, we both go into debt
-Finally get a letter in May 2016 from her lawyer stating she wants me to sign over title, and after a house appraisel been done the bank and real estate agents feel it would be lucky to sell for 310k, a drastic drop in value
-June 2016 I reach out to her to find out whats going on, she explains indirectly how she wants to punish me for the break up
- I tell her (not actually going to do this, more of a strategy) Im going to sign it over, because thats what my lawyer suggested
-I kindly discharge my lawyer, because I disagree with his opinion that I should just give the title up after losing all that money

So now where I am at is this - she is still waiting to hear from the bank if she can get financing (she most likely will). I don't feel like Im obligated to sign over this for nothing. I see it as well and both of us go into debt (we both lose, or she stays in the house, pays 100 percent of the payments, we split property taxes, and when the value goes up she pays me off (we both benefit) but I will not let her benefit and me get fucked. Please help, even if you don't live in the area, anyones opinion is welcomed.

[fortysix]

Here is some stuff you are leaving out:

"We paid 360k plus around 8k for cmhc fees, both names go on title" -- Did you pay 50/50? (aside from the initial 21k and 15k down)?

Were you making mortgage payments 50/50 throughout?

Supporting her in any way with throughout the relationship?

What is your ideal outcome? Do you want to keep the house?

[tanner]

Edmonton has been hit pretty hard. How can you be sure property values don't go down even more. It may be a while if they do go up again. In the mean time you will still be making your monthly payments - taking more loss. She seems determined to keep the house. She has got you by the balls indeed. I would not have told her you are going to sign it over -- what made you do that? Instead I would have told her you are in it for the long haul. Then when she eventually gets frustrated, you ask her buy you out. -- Or else take your losses and move onto other ventures.

Somehow I think taking the losses is the best route instead of going more into debt.

But then again, what do I know.

[musashi]

(06-14-2016 07:53 PM)se7en Wrote:  

Here is some stuff you are leaving out:

"We paid 360k plus around 8k for cmhc fees, both names go on title" -- Did you pay 50/50? (aside from the initial 21k and 15k down)?

Were you making mortgage payments 50/50 throughout?

Supporting her in any way with throughout the relationship?

What is your ideal outcome? Do you want to keep the house?

Aside from the down payment, yes everything has been split in half

I did not support her throughout the relationship, so no worries about that coming back to bite me in the ass

Ideally I want to keep the house until the market goes up then have her buy me out and pay me my 30k that Ive put towards principle plus any positive equity after that

[musashi]

(06-14-2016 08:03 PM)tanner Wrote:  

Edmonton has been hit pretty hard. How can you be sure property values don't go down even more. It may be a while if they do go up again. In the mean time you will still be making your monthly payments - taking more loss. She seems determined to keep the house. She has got you by the balls indeed. I would not have told her you are going to sign it over -- what made you do that? Instead I would have told her you are in it for the long haul. Then when she eventually gets frustrated, you ask her buy you out. -- Or else take your losses and move onto other ventures.

Somehow I think taking the losses is the best route instead of going more into debt.

But then again, what do I know.

This is what my lawyer explained to me, and then I let him go. I understand exactly what you're saying and I do appreciate your input. However like I said we both win or we both lose, but I'm not going to get fucked and have her come out the winner. It was strategy why I told her that, in Canada a judge is not going to make me sign over a house with my name on the title just because I made that statement. In the end, if she wants to fuck around, Ill take her to court and force a sale on the house, unless she's willing to compromise. She has a lot more to lose than me, yes we'll both go into debt but she will have to move out of her house, I won't.

[Northwest]

Misashi, feel free to DM, I work in your market.

Frankly, you'd be looking at a 5+ year term to recover that lost value on your home at best.

Long story short it may be a scenario where it's best to take the hit and move on with life.

[TheFinalEpic]

Alright, most of this is actually legal advice, so I will abstain from offering that, as I am a realtor.

What I can comment on are the property prices and give you an estimate on what the house would be worth in today's market. I agree that the price likely fell, however I haven't seen something as drastic as 50k drop in value. I can give you a second opinion if you PM me the address and relevant information. I don't see prices dipping much further, especially if it's a single family home, condos have been hit hard here, but SF stuff is relatively stable.

[musashi]

RBC did an appraisal for me last week that came to 330,000. Her lawyer had whats called a comparative analysis done, and thats where her lawyer stated it would most likely sell for 310,000.
I feel with the real estate cycle, we could see the value go up in 3 years (time left on the 5 year term owing). With Saudi Aramco helping to rise the prices of oil, I see it in the 70-80 range in 2019.

[Kamaki4]

I think you have to decide if you want to make the smartest financial decision for yourself, or if you want to make her suffer. You obviously understand the situation better than we do, but it seems to me that she has a great deal with the status quo of living in a house where she only pays half the mortgage. If you would have taken the advice that the lawyer you hired gave you, how much of a hit would you have taken on the money you have already sunk into this mess?

[Financial]

Appraisals can come in at what you want them to.
I needed an appraisal done quickly a few times and the first question I was asked was "what do I want it appraised for?" Second was "do you want it higher or lower than that?"

Both times I got the appraisal. Neither time did anyone even look at the house.

Don't trust her lawyer's 'appraisal' at all.

[musashi]

(06-14-2016 10:26 PM)Kamaki4 Wrote:  

I think you have to decide if you want to make the smartest financial decision for yourself, or if you want to make her suffer. You obviously understand the situation better than we do, but it seems to me that she has a great deal with the status quo of living in a house where she only pays half the mortgage. If you would have taken the advice that the lawyer you hired gave you, how much of a hit would you have taken on the money you have already sunk into this mess?

Ive probably sunk close to 50k into the house, so that much of a hit.

[scotian]

From what I know, Edmonton's real estate prices haven't dropped as much as other Alberta cities such as Calgary and Fort McMurray. The reason being that the economy here is more diversified; there's provincial and federal government jobs, a huge university and other smaller colleges and many infrastructure projects being built (driving is a huge pain in the ass these days with all of the construction). The arena is being built and a few massive condo/office towers going up as well. Then there's the oil and gas, Edmonton has all of the down stream refineries, which are still necessary and need to operate, there's a big one being built out in Red Water right now.

Yes prices have gone down, some more than others depending on location, according to an agent I asked, mine has gone down by about 10% but is still up since I bought it five years ago. I've accepted the fact that I'll probably have to hold onto my condo for another 3-5 years before selling it but I"m ok with that as Edmonton is one of the best places in Canada for a tradesman to work. Fingers are crossed for an increase in oil prices and hopefully the provincial NDP and federal Liberals don't fuck Alberta over too much!

[musashi]

Just a quick update, she texted me this morning saying she couldn't get financing from the bank, not that I would've signed it over anyways.

[Svoboda]

Now offer her the deal she offered you.

[musashi]

I did today, and she won't sign of course. She lives there, so she won't be handing it over to me anytime soon. Kind of funny though isn't it

[Svoboda]

Totally.
Forced sale is the way to go. Also, does she pay anything to you for use of your half of the house? Since you mentioned you have no acces to the house.
I have no idea about Canadian laws, but could you rent out your half to someone? Or put some cousin or friend in it?

[musashi]

She pays half as she shares the title with me (smh). Today she mentioned us doing an agreement where I can force the sale for the remainder of the 3 year term lol I said no way jose! She's nuts though so Im just staying away for the time being.

[jake1720]

(06-15-2016 12:37 PM)scotian Wrote:  

From what I know, Edmonton's real estate prices haven't dropped as much as other Alberta cities such as Calgary and Fort McMurray. The reason being that the economy here is more diversified; there's provincial and federal government jobs, a huge university and other smaller colleges and many infrastructure projects being built (driving is a huge pain in the ass these days with all of the construction). The arena is being built and a few massive condo/office towers going up as well. Then there's the oil and gas, Edmonton has all of the down stream refineries, which are still necessary and need to operate, there's a big one being built out in Red Water right now.

Yes prices have gone down, some more than others depending on location, according to an agent I asked, mine has gone down by about 10% but is still up since I bought it five years ago. I've accepted the fact that I'll probably have to hold onto my condo for another 3-5 years before selling it but I"m ok with that as Edmonton is one of the best places in Canada for a tradesman to work. Fingers are crossed for an increase in oil prices and hopefully the provincial NDP and federal Liberals don't fuck Alberta over too much!

I'm in oil and completely agree with this.

If you look at Denver there is quite a bit of oil there, but prices are barely affected because there are so many other industries.

Now however, if you own North Dakota, you're shit out of luck. No one wants to live there without the oil.

[TheFinalEpic]

Edmonton is far more insulated than Calgary's market for the reason we have a wider diversification into other industries. Calgary also has a larger share of >$500k properties, which actually becomes the top 15% of home ownership. They took a beating compared to Edmonton's market when oil fell. Now, don't get me wrong, our market got hit, but the things that are suffering the most are the condos and SFs in the areas that were built from 2006-2012 (the "urban sprawl") of Edmonton. If you own something close to the city centre or an established area, you're holding pretty stable with around 1-3% depreciation over the last year.

You guys hit the nail on the head. I also believe that our NDP government has created an environment in which people don't want to step into Alberta and put investment into the province. Unfortunately, I believe this will be the condition until they are unanimously voted out in 3 years.

[musashi]

My home in Calgary has probably dropped 40k in value at least, since June of 2014, and thats the month I put this house up for rented and it yielded me $1800 each month, yesterday I looked online at a house 6 doors down and it is up for rent at $1550, so yes there has been a substantial drop in my city, but I do personally believe by this time next year we will see value start to slowly rise again.

[RBerkley]

Tsk, tsk..Canadian women...Roosh complains how Canadian women in Toronto women don't give eye contact, but the Canadian women in general come out of the woodwork when they hear some guy is planning to purchase a home in Canada during the infamous real estate bubble.

You may have to speak with an accountant regarding your dilemma in order to make a decision, because they are qualified to provide financial advice.

The first thing is that she WANTS YOU to pay HALF of the mortgage while she DENIES you access to your own home! You have been paying mortgage installments for the past two years, but you can't visit the home.

Secondly, she initially uses a lawyer to force you to give up your ownership rights (though she denied you access to the house anyways).

Listen here: Consult with any CPA at KPMG, Ernst & Young, PwC regarding your situation and this might be their most relavant response:

LIQUIDATE THE ASSET AND SPLIT THE REMAINING PROCEEDS.

You should have done that with your lawyer, and CPA firm the first thing you broke up.

If you were speculating on real estate alone, then you would have been okay with waiting until the next oil boom in Alberta, but since the ex-thot outline her intentions to stay in that house while you slave off to pay half of the mortgage, she isn't going to give up ownership without you paying MUCH, MUCH MORE for LEGAL FEES and COURT COSTS.

In addition, your ex-thot is not a tenant to the home; she is a co-owner, which means that she might or might not use a feminazi tactic such as a false allegation to deprive your rights and liberties should you demand that she pay you your share of the house investment based on the fact that she denied you access to your own house.

IMO, the biggest mistake you made here was to co-sign a mortgage with a Canadian woman. Even if the house's market value was magically increased to 1 million dollars tomorrow, would you expect that ex-thot to give ownership to you?

She already DENIED you access to the house. Therefore, that house should have been sold off as soon as you broke up with her after she refused to give you ownership.

Now, because her bank didn't provide her more mortgages, she will expect you to pay the rest of the tab in the near future.

A mixture of Roosh V theory in accounting concepts will indicate that the “going concern” concept does not apply to when dealing with contracts with Canadian women.

Who knows if that ex-thot will default on her payments for spite, thus putting you at risk of a bad credit scores, eventually forcing you to pay 100% of the mortgage just to save your credit score?

Trust me on this man. I know Ontario men who live in the woods because their wives kicked them out of their own homes using the armed thugs in blue. He told a guy one good piece of advice:

“What's the use of a good credit score when all of that can be taken away [through marriage and divorce]?

Next time you should've consulted a lawyer and accountant BEFORE signing a contract with a Canadian woman regarding finances in order to evaluate a risk assessment.

It just looks like your ex-thot is holding you hostage financially. You're paying half of a mortage on a house that you don't even have access to because the ex-thot barred you.

I hope that Roosh produces a Vlog about the trend of Canadian men who co-sign mortgages with their girlfriends who only gave eye contact after hearing about “buying a house”.

I'm sorry that you ended up losing around 50,000$ on paying for a home that your ex-thot is denying you access to, but wait and see for the next three years how she is going to act when you pay your half (around 200,000$ plus interest?).

Plus, you may never know if interest rates are going to rise when the Canadian economy rebounds or not, so take that into factor.

As I said before, consult with an accountant for the best advice. I am not giving any legal or financial advice, just only information purposes.

[porscheguy]

(06-14-2016 09:16 PM)musashi Wrote:  

(06-14-2016 08:03 PM)tanner Wrote:  

Edmonton has been hit pretty hard. How can you be sure property values don't go down even more. It may be a while if they do go up again. In the mean time you will still be making your monthly payments - taking more loss. She seems determined to keep the house. She has got you by the balls indeed. I would not have told her you are going to sign it over -- what made you do that? Instead I would have told her you are in it for the long haul. Then when she eventually gets frustrated, you ask her buy you out. -- Or else take your losses and move onto other ventures.

Somehow I think taking the losses is the best route instead of going more into debt.

But then again, what do I know.

This is what my lawyer explained to me, and then I let him go. I understand exactly what you're saying and I do appreciate your input. However like I said we both win or we both lose, but I'm not going to get fucked and have her come out the winner. It was strategy why I told her that, in Canada a judge is not going to make me sign over a house with my name on the title just because I made that statement. In the end, if she wants to fuck around, Ill take her to court and force a sale on the house, unless she's willing to compromise. She has a lot more to lose than me, yes we'll both go into debt but she will have to move out of her house, I won't.

You're still worried about winning or losing, and you fail to grasp that you lost when you signed off on the mortgage. And you continue to lose each month when you pay half of the mortgage but have no use of the property. You lose even more if she decides she doesn't want to pay any of the mortgage.

You think she's got more to lose than you? Guess again. She's already doing this to "punish" you. You clearly underestimate what women will do to fuck over a guy they're mad at. This forum is a treasure trove of stories about what women (especially those in Canada) are capable of when they're feeling vindictive.

I doubt she even went to the bank. Why would she?

[RBerkley]

Toronto women are known not to give eye contact, but magically they are available for men who are planning to purchase overpriced real estate.

You should observe how them Toronto women does operate. They walk half-naked around kids, but as soon as they see a handsome guy, they lose their shit.

However, when the Typical Toronto Woman/Canadian femicunt hears about some man purchasing an expensive home, she suddenly starts to talk with the man.

This Canadian real estate blogger, Garth Turner, publishes a fair number of stories where men had 250,000$ in savings yesterday, but because of the “girlfriend”, he uses all of that money as a downpayment on a home which was paid over asking.

The typical Toronto woman is a parasite man.

[musashi]

If she stops paying, my lawyer told me I can sue for full title.

[RBerkley]

(06-21-2016 05:39 PM)musashi Wrote:  

If she stops paying, my lawyer told me I can sue for full title.

Unless she is a CEO, Lawyer, Doctor, Dentist, Plastic Surgeon, etc, then would I see a chance that you can recoup your court costs and claims, but if it's an average 9-5 office clerk, then how can one expect her to pay over 5,000$ at least?

To be honest, I would be more optimistic with your situation if you had a crooked autistic Jewboy as the co-signer. At least, if it were me, I would be allowed to rent out the basement because the Jewboy gonna get his nose punched if he tricks me..however, because the co-signer is a Canadian woman, she can file numerous false charges just to keep that house...

Canadian women are the elite class in Canada, and that's the problem. She appears to be determined to keep that house at your expense...not even a crooked Jew would try to scam someone like that such as keeping 100% of the home, but letting the other person pay half the mortgage...Canadian women make scammers look like amateurs!