zephyr
Ex-Bluelighter
Hi
I am half way through paying off a mortgage on a property that is interstate in Australia.
I own 99 percent and a family member owns one percent. We did this as the family member was asked by me 7 years ago when we bought the place to do so as he has good financial sense and would stop any attempt by me to sell it as at the time I intended on living in it and paying it off.
However since then I have changed jobs and moved interstate. I now have a child and her father left so I moved to be closer to family for her sake and my own.
The place has been let out consistently and rent is high. Its had new bathroom and carpets and paint and air conditioning and dishwashers.
Its a fantastic investment.
I have been making all payments and the other owner does not as per agreement.
However my situation has again changed. I need to leave where I am now and wont have help with my child so I will have to give up my job as its shift work and I need a job thats child care friendly.
This means I have to sell up.
I dont know where to start and am not on good terms with the 1% owner who is the cause of this rift.
Do I approach the bank first? The real estate agent who both sold me the property and leases it for me?
Without that I am stuck in a bad situation and need to get away with my child and find stability.
I am half way through paying off a mortgage on a property that is interstate in Australia.
I own 99 percent and a family member owns one percent. We did this as the family member was asked by me 7 years ago when we bought the place to do so as he has good financial sense and would stop any attempt by me to sell it as at the time I intended on living in it and paying it off.
However since then I have changed jobs and moved interstate. I now have a child and her father left so I moved to be closer to family for her sake and my own.
The place has been let out consistently and rent is high. Its had new bathroom and carpets and paint and air conditioning and dishwashers.
Its a fantastic investment.
I have been making all payments and the other owner does not as per agreement.
However my situation has again changed. I need to leave where I am now and wont have help with my child so I will have to give up my job as its shift work and I need a job thats child care friendly.
This means I have to sell up.
I dont know where to start and am not on good terms with the 1% owner who is the cause of this rift.
Do I approach the bank first? The real estate agent who both sold me the property and leases it for me?
Without that I am stuck in a bad situation and need to get away with my child and find stability.