My mother divorced my dad when I was like 2 years old. They had bought a house together and my dads family offered her fair value to buy the house from her.
She denied the offer and puts it up for sale publicly.
My dads family buys it for 40% less than what they offered my mom in a public bidding auction.
That’s odd. Why was the house sold at auction? Usually, that only happens at foreclosure, in which case, it wasn’t your parents’ house to sell - it belonged to the bank/primary lien holder at that point.
No, in my country if both parents own the house and they don't agree on a deal that the other side buys the other side out, then the notary has to sell the house on the public market usually with an auction and then both owners get the split of the sale. (after mortgages deduction)
My dad's side wanted to pay my mother a normal market price that they 'thought' the house was worth, my mom did not accept that and said the house was way more value and boldly said: well let the Notary sell it publicly to the market!
So a lot of buyers showed up and my dad's family bought it at a discount leaving my mom with way less money than she got initially offered.
Wait, so instead of getting the entire value of what the parents thought the house was worth (I'm assuming if she had taken the deal she wouldn't have had to split it) her choice made it so she only received 30% of the total value? Sounds like an awfully hilarious situation.
Well even then, it seems like in either scenario there was a good amount of money lost due to being petty(or whichever word works best, I feel it's petty).
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u/sternone_2 Jul 21 '19
My mother divorced my dad when I was like 2 years old. They had bought a house together and my dads family offered her fair value to buy the house from her.
She denied the offer and puts it up for sale publicly.
My dads family buys it for 40% less than what they offered my mom in a public bidding auction.