Estate executor house sale advice needed

xylophone

changing the mortgage to interest only,

And how will this help?

If I can say 'actually, houses do sell year round'

There is nothing to prevent your saying this - as for proving it, dates of sale on mouseprice or similar?

You need to get a grip and get on with it (unless you have access to unlimited funds to pay CT, mortgage, solicitor's fees etc.).

Might the creditors of the estate not seek to force a sale through the courts if this goes on much longer?

Freecall

Ames wrote: »

'houses do sell year round'

If it helps, I can tell you that this is definately true.

.

Ivana_Tinkle

I don't know if this is helpful or just muddying the waters more, but it sounds v much like you will never please your sister and your dad. Since they're going to be vile whatever you do, perhaps it's just best to reduce the price to whatever it takes to get shot of the house - at least that way you can try to get on with your life.

Ames

xylophone wrote: »

And how will this help?

There is nothing to prevent your saying this - as for proving it, dates of sale on mouseprice or similar?

You need to get a grip and get on with it (unless you have access to unlimited funds to pay CT, mortgage, solicitor's fees etc.).

Might the creditors of the estate not seek to force a sale through the courts if this goes on much longer?

Going interest only would halve the mortgage repayments, making it more affordable for me.

What's mouseprice?

I doubt any of the other creditors would be able to force a sale. As far as I know of (and the solicitor would have told me by now if there were more) there's a credit card of around £250, £500 owed to a company, and around £500 in utilities.

The big ones are mortgage (£220 pcm full repayment, just over £100 IO), and council tax (£1500 a year, or £750 if unfurnished). The CT can hopefully be charged to the estate and paid on sale of the house, obviously only if it's within a reasonable time frame.

I don't think people are fully understanding my situation, with comments like 'get over it' and 'just do it'. If it were an abusive partner instead of relatives, would you be advising that I wind them up and provoke them?

I know I'm trapped. I know I need to sort my life out. But I'm having enough trouble with dealing with the basics in my own life without making huge changes with regards to cutting off my family (which is what will happen if I unilateraly drop the price).

Please, just take a second to think about what my life is like. I can go a month or more without speaking to anyone who isn't paid to talk to me (like doctors, nurses, support workers) apart from my family. I can go days without leaving the house or even seeing another person. I go to the supermarket more often than I need to because it's a reason to go out of the house, and when I do I can spend a couple of hours there because the alternative is to come back to this crappy flat full of damp, mould, without heating, and spend a few more days on my own.

To people with normal lives, with friends and support networks, it must seem like a no brainer, and I can see why you'd just expect me to get on with it. You probably all think I'm just making excuses, and that I'm wilfully ignoring advice. It's really not like that.

GDB2222

Hello Ames. This wonderful inheritance seems to be a millstone round your neck at the moment, but things will improve!

Really, what you need is more money right now, so that you are in a position to pay the bills. I would raise an additional loan on the property of £15,000, to be held by the solicitor so that she can make all the payments on your behalf. That is much easier said than done, but I think that you should have a word with a mortgage adviser and your solicitor. It is quite common for administrators of estates to have to take out loans in this way. Once you have done that, all of the pressure you have described will evaporate.

I do not think that your family are necessarily right about how to go about selling the house, but once you have the extra financing sorted out it should be relatively easy to comply with their wishes and keep the peace.

One thing I would absolutely insist on is that your father finishes the kitchen as soon as possible. Kitchens really sell houses.

The other thing I would do is appoint an additional estate agent. The fees will be a bit higher, but you have the benefit of 2 agents competing with each other to make the sale. I would choose an agent in a different part of town.

Ames

Thanks.

I'm not sure that I'd be able to raise any money on the estate, as I have a terrible credit rating. Also, wouldn't it have monthly repayments? Otherwise it doesn't seem like a bad idea.

I do agree with getting another EA, unless that makes us look desperate and will result in only really low offers?

I think I'll look into getting another one in January, I doubt many people are looking for houses in the run up to xmas, so taking time and choosing the right one to start again in the New Year seems sensible.

GDB2222

Ames wrote: »

Thanks.

I'm not sure that I'd be able to raise any money on the estate, as I have a terrible credit rating. Also, wouldn't it have monthly repayments? Otherwise it doesn't seem like a bad idea.

I do agree with getting another EA, unless that makes us look desperate and will result in only really low offers?

I think I'll look into getting another one in January, I doubt many people are looking for houses in the run up to xmas, so taking time and choosing the right one to start again in the New Year seems sensible.

You'll need to get specialist advice about the loan, but the saving grace is that you have loads of collateral, so it's a very safe bet for the lenders. I suggested borrowing a large amount, so there's plenty of money to pay the instalments for a LONG time.

Having two agents makes you look savvy, not desperate, but don't get four or five!

Fire_Fox

Ames you may recall I have mental health issues myself, many clients the same and a dear friend of the family who is bipolar 1 who I have seen manic/ mixed state very recently so I understand somewhat.

But I feel you are effectively asking us to give you bad advice, I can't in all good conscience work around what you are already doing which is letting people who have nothing whatsoever to do with this (esp Dad) dictate to you. For your own protection you MUST adhere to your legal responsibilities, if you can't due to manipulative relatives and your wellbeing STOP being an administrator let the solicitor do it all.

If it were an abusive partner I'd tell you to pack your bags and leave with the support of Women's Aid, or to get a solicitor to get them out/ get a restraining order but clearly that doesn't apply so well to your immediate family.

We are not a fluffy huggy board but G_M is helpful, decent and well respected. Don't read his posts nor mine 'hearing' a nasty tone, read them as plain speaking/ blunt/ to the point/ no nonsense/ perhaps a little frustrated.

Without knowing the area that the house is in we can't signpost you to any facts of figures, only say that they are rising in some areas, static elsewhere and falling in others. Also give you the most general guidance that houses do sell all year round if they are priced accordingly - tho prices drop and the market slows at this time of year and picks up in January. Also to research land registry sold prices for the street and area. Have you searched the MSE news articles? MSE Helen has posted links to articles on the housing market here in recent months if you run an advanced search on her username.

Ames

I don't think I've made it clear what help I'm asking for. Probably because I'm not too sure myself! I asked what I thought was a straightforward question about council tax, and was told to post over here. With hindsight, that probably wasn't a good idea, as I don't have any concrete questions.

The mention of mouseprice (I think that was it) was really helpful, if I can get some info then I'm in a stronger position. Especially if I can show that house prices are falling in Scarborough and rising in Leeds.

Also finding out that it doesn't look desperate to go with more than one EA. Although I need to check out whether we singed to be with Reeds Rains exclusively for a certain length of time, I have a feeling that they'd have insisted on that. It shouldn't be more than 6 months though.

I am trying to leave everything up to my solicitor, but I felt really let down by them over the repossession hearing, and that it's been nearly three weeks since I last wrote and I haven't heard anything. I'm feeling under pressure financially, especially since dad did an equity release and gave us so much money so I feel bad that he's not being paid back. And doing the sums in my head I just can't get things to add up.

It's not helped by the fact that I'm in the process of applying for medical rehousing and worrying where to get the removal costs from, and there's the council tax changes coming in in April, I don't know how much my costs will go up then. Or how my bills in general will go up when I move.

I'm also very worried about having my inheritance, I'm terrified I'll blow the lot and end up with nothing and not able to claim benefits because of deprivation of capital rules. Having 40-50k in the bank and having to be disciplined enough to make it last seven or more years is something I'm trying not to face. So being told 'get rid and all your problems will be solved' isn't really helpful, because when it's sold is when the problems will really start. But that's beyond the scope of this board.

I'm not reading posts with a nasty tone. I understand the frustration - I used to be a DFW regular and I imagine my posts here are like the ones there that said 'I'm 50k in debt, my basic outgoings leave me in negative figures, but I'm not giving up the holiday, sky and mobile phones'.

I just need to gather information about how house selling works I guess. I'm not really at the point of considering making big decisions because I feel like I'm out of my depth with it all. I tend to micro organise everything, and being in a situation of dealing with something that's so alien and not something I ever thought about (buying/selling houses) is quite scary.

Annisele

Ames wrote: »

I'm also very worried about having my inheritance, I'm terrified I'll blow the lot and end up with nothing and not able to claim benefits because of deprivation of capital rules. Having 40-50k in the bank and having to be disciplined enough to make it last seven or more years is something I'm trying not to face.

There are solutions to that particular problem. I don't want to be too specific - because that would tend towards giving you advice, which we're not allowed to do - but there are ways to hand over a lump sum to a company and get it back in small trickles. Some of those things *might* be helpful to you.