Anybody know about tax, mortgages and cr*ppy families?

Savvy_Sue

I'm not sure, from past history, that Ames can rely on her dad doing what he says in terms of leaving a share of this property to her in his will, nor on her sister not to kick up about her 'profiting' from work done by Dad and sis. Nor does that seem the best idea for Ames' mental health ...

I said I didn't have any advice, but actually I think I do. If you decide to accept this offer, make it clear that you NEVER want anything more to do with the property ever ever again, nor with any of the consequences if letting it out all goes tits up. In other words, you take your money, bank it, and never discuss it again. You don't care if sis makes a mint out of it, you care even less if they both end up bankrupt as a result.

Ames

Errata, you weren't insensitive, it's just that I've learned my lesson about talking about my benefits on here and then having it brought up elsewhere on the boards.

The meeting went ok (finally - I managed to lock myself out of the flat and had to get a locksmith round so ended up a bit late).

We've agreed on 50k - so the 45k plus my 5k.

They've made it clear that dad's share will be left to sister in his will. They're seeing it as dad just putting his name to it so she can afford to buy me out. I'm fine with that - after all this hassle I don't want to have to go through it again when dad dies.

I made it very, very clear (and may get it in writing too) that I'm out as far as the house goes when/if this goes through. No liability, no profit, and I'm definitely not getting involved in any arguments between them.

The mortgage 'offer' is with dad's bank and they know about his age etc, so that part wont be a problem. Sister has acknowledged that there might be a problem with her passing the credit check and has said that the house will have to go back on the market if that's the case.

They suggested that I should speak to my solicitor to make sure it's all ok!! Wonders will never cease...

Then dad offered to buy me an ipad for my birthday, but I said I'd rather have a dishwasher.

So, a lot better than I expected. I now need to talk to the solicitor and benefits advisor, and hopefully this will all be sorted and a distant memory before too long.

Although then I came home and started googling about mortgages for people on benefits, and SMI and things... which has opened up lots of possibilities that I'd never dreamed of. Although I'm probably misreading things and getting my hopes up. But that's a whole other issue.

So yes, things seem to be settled.

LannieDuck

Brilliant, sounds like a good result.

Ames

Just thought I'd update. I saw my solicitor today and she said that the 50k is far too low, we could sell it for 145 and I'd get that much or more. She also told me not to talk to dad and sister about it and have everything go through her.

I texted dad and sister to say that the offer was too low, they'd be hearing from the solicitor and it all had to go through her.

Sister phoned a couple of hours later trying to guilt trip me. I just told her to speak to the solicitor (had to repeat it several times).

An hour later she phoned me back and said she could go up to the 55k the solicitor has said is the minimum I should accept.

Great, I thought, it's all sorted.

Then she copied me in to the email to the solicitor making her offer. It's conditional on me paying the whole of the solicitor's bill (for dealing with the estate after probate was granted), less half of the conveyancing.

I doubt the solicitor will accept that - it's offering me a few thousand more with one hand and taking it again with the other. It also seems clear that sister and dad don't realise they need their own solicitor for the purchase, which is a cost they haven't factored in.

After all that stress, I'm back at square one.

So once the letters have crossed I'll be putting it on the market priced to sell.

Savvy_Sue

Do your best not to stress about your sister and father, keep repeating 'this needs to go through the solicitor' and if necessary hang up.

Sounds like your solicitor is a good 'un.

Ames

Thanks Sue. I doubt dad and sister will be wanting to talk to me anyway - their sole topic of conversation seems to be The House. With that off the table there's nothing else to talk about.

My solicitor is a good un, she came highly recommended. I aso had two of my support workers there and between the three of them they managed to convince me that my family aren't being fair - and that it's not my problem if they can't raise enough to buy me out. Although it helped that in a conversation last week wtih my sister she actually said 'but if we put it on the market at a quick sale price we'll only get 55k each'. Erm, yes, and you want me to take 50...

Sister did slip up on the phone earlier though, when she upped the offer to 55 and said 'we'll have to take out a bigger... err, dad'll have to do without getting back what he's put in'.

At the end of the day, the extra 5k is just a 2.5k personal loan for each of them. My sister's planning on getting a car loan for 5k once she has the mortgage anyway, so I guess she just has to decide whether she wants the house or a new car the most.

And as they kept saying when they refused to entertain the offer of 156k last year 'it's only a few more thousand, if they really want the house they'll find it'. Works both ways...

whodathunkit

If you accept a much lower offer than the property's worth, might you not have problems regarding the assessing of your means tested benefits?

Ames

Yes if its sold to family, which is why I can't accept their offer. If it goes on the market and can only fetch 145k then its different because that is the market value- after being on the market for two and a half years and several EAs vaaluing it at 150k its a reasonable value.

getmore4less

Are you the sole administrator?

If so, ( you could have accepted the offer once you found out)

change the locks get a new EA and price to sell if they want to buy it let them compete on the open market.

The money dad put in was against the administrators advice so tough.

As administrator you can recover any money you/they put into the estate(paying mortgage, insurance utilities etc.) before you distribute.

If they don't like it there is very little they can do except take you to court which is probably unwise as there are clear signs they have been obstructive and as long as you get more then the other beneficiaries offer you have done your job as administrator.

Ames

I am sole administrator, but by the time I found out the offer had been increased to an acceptable amount (they started at 25k below asking price) it was too late to accept, as sister didn't mention it for a few weeks.

My solicitor has suggested changing the locks and getting an EA in, but after giving dad and sister 21 days to make their offer etc. So that is on the cards, sadly. I don't know how much changing the locks will be though as they're all upvc doors with locks in the handles.

I doubt they'd take me to court. They threatened to when I appointed the solicitor. They said that I wasn't mentally capable of administering the estate, and the evidence for that was that I'd instructed a solicitor to take over because I wanted everything to be done properly. (They didn't see the point in advertising in the Gazette, for instance). Which is clearly ridiculous, as would attempting anything this time.

My sol wrote to sister explaining that 55 was acceptable but her fees came out of the estate. Sister somehow thought that was accepting her offer. Sol wrote again using little words so sister would understand.

I've had texts from sister still talking about the house stuff even though I've said go to the sol. I've had a text from dad refusing to talk to the sol at all because he 'wont talk to my daughter through a third party'. In this, I'm not his daughter, I'm estate administrator. I've ignored all the texts, and unplugged the phone.

So things are going to be pretty ugly for a while, but I'll get through it.