Joint Mortgage problems

[apatia77]

I bought a property with my brother just over 2 years ago, there are some complications now as my brother wants to buy me out/sell the property as he no longer wishes to live together due to some personal reasons.

He offered to buy me out for certain amount but I've refused (I know he doesn't have this much money and that he can't get the whole mortgage himself only but he won't give me any further details so I suppose he's got someone to buy this property with).

Now he said he was going to take me to court, can courts give him an order forcing me to sell?

He also gave me "Notice of Severance" letter but I am confused to what it means.

I might have to change my mind and agree him to buy me out but I don't think I will get the money I deserve.

 

[apatia77]

Is he offering you a fair price?

Well, he is offering my money I've invested so far, I need to calculate it though, difficult to say as we have invested in modernising the place and furniture. I don't think also that the property price has changed but you are never sure nowadays.

I only don't want to move out as I really like living here, if I am forced out then back to renting/sharing which really does suck.

 

[apatia77]

We paid 50% each for the deposit and so far any fees/bills/anything we split 50/50 between us.

Thanks for the advice guys, I definitely need to get the property valued again.

 

[apatia77]

I got my parents involved but there is really not much they can do. It would be a shame really if I was forced to sell the house and make a loss after all the expenses as they gave us 10k towards the deposit.

Also once and if I move out/sell my half then there is very little chance of me having any contact with my brother ever again and I've done a lot of things and been close to him for the last 20 years.

Well, that's life I suppose, I might consider him buying me out if I can get a reasonable deal.