Dead father's house sale

sjm67

I am in a real pickle.
My father sadly passed away in January.

The house was put up for sale in early April.
My sister, the executor, has accepted an offer of 15% less than the original asking price. I do not want to sell at this price.
How can I stop her underselling it?

Please help

Thanks in advance.

(There is no debt on the house or the estate, my sister is just desperate to get her hands on share of the money)

RAS

What value have other houses in the area sold at in the last 6-12 months?

sjm67

No houses in the area have sold for maybe 20 years.

The house was valued in 2000 for £165k... 2013 sale price 2013 price £187k.

nom_de_plume

Can I ask what rough area of the country? That sounds a very small increase for the time period.
Having said that the fact the property's been on the market since April and has not attracted offers near the asking price tells a story.

dancingfairy

Are you due to inherit? As an executor your sister has to act a) in accordance with the will (if there was one) and b) I believe has to act in the best interests of the beneficiaries, although how you'd prove she wasn't and who you complain to I'm not too sure.
df

sjm67

Mid Essex, I have just checked the Nationwide price calculator, it said roughly the worth is £250k.
It is in need of refurbishment but is definitely liveable.
Originally up for £220k to reflect that.

How can I challenge her accepting such a bid?

sjm67

Yes I am a beneficiary.

joerugby

If it has been on the market for five months and this is the best offer why should it be worth more? Has it not been marketed properly?

sjm67

the original offer was £195k but then got revised down when the couple could not raise the funds. My sister tired of waiting, then accepted.
Even though had been a clammer to buy it. It had my potential buyers and sold within 4 days
Had she waited she would have got the full £200k.
Had she not been in such a hurry she would have got very close to the original £220k

sjm67

It was also only on the market for 5 weeks.

RAS

Think you may need a lawyer's letter reminding her of her duties as an executor, if she will not listen to you or accept a simple note from you.

She has a DUTY to maximise the value of the estate.