2 executors unable to agree on house price

flora48

Realism is the key word here. Get 3 current valuations and go for the most realistic based on market conditions for the area.

I was in a similar situation a few years ago when I inherited a property with my b-i-l. He marketed the house at too high a price, not a single enquiry, he wouldn't budge, the market stalled and we accrued a council tax bill running into the thousands.

We rented it out for a while, but all in all I reckon he lost us about 20% of a realistic sale price.

Hope you can get him to see sense.

Mandelbaum

Hi All, I am in a similar situation to the opening poster - my brother and I put our late father's house up for sale and now, having received an offer which we both agree is better than we ever expected, my brother thinks we can get more.

What are the options for forcing a sale: approx how much does this cost and what is the process?

Thanks in advance.

melanzana

Auction it, with a realistic reserve.

If it fails to sell well then, there's your answer. If it sells, all is well.

And it's quick!

Mandelbaum

Thanks, but I won't get his okay to auction it so this is not an option.

What would be the legal cost to force a sale via solicitors?

brianh

If they need a solicitor to sort it out they have lost the plot, considerable money and possibly their future relationship.

I suggest the brother who lives further away should let the other one handle the sale. Otherwise other workable options mentioned on the thread.

Mandelbaum

Hi All, for what it;s worth I've read this form plus all the forum topics back to the start of 2015 looking for similar cases.

The issue is an impasse in how to handle a sale: appreciate the various alternative attempts to suggest counselling and mediation but I fear his is not an option and the relationship is not good anyway.

Can anyone tell me what the process and cost is to force a sale using solicitors?

Yorkshireman99

Mandelbaum wrote: »

Hi All, for what it;s worth I've read this form plus all the forum topics back to the start of 2015 looking for similar cases.

The issue is an impasse in how to handle a sale: appreciate the various alternative attempts to suggest counselling and mediation but I fear his is not an option and the relationship is not good anyway.

Can anyone tell me what the process and cost is to force a sale using solicitors?

Budget several thousand that will have to come out of the estate. Courts do not look favourably on excecutors who play the fool so your brother might end up getting costs awarded against him. Certainly you should try writing formally to your brother politely explaining the consequences if he does not start behaving sensibly and explaining he is likely to end up costing himself more than he might gain by trying to get more from the sale.

PasturesNew

The estate agent has a vested interest here. Get down there and have a meeting with the estate agent, inside the house, to discuss the realistic and optimistic values and see what he suggests.

He will be disinclined to promote the house heavily if he feels there'll be a problem that crops up.... and will be keen to market it once he knows you're all in agreement over the price.

It makes sense.

You could make a weekend of it, sounds like you have a lot of stuff to discuss anyway.