Executor excluding benificiary

Bogalot

LellSasha wrote: »

the rate of interest is of no concern to you..the fact that I have it and have plans to work towards the mortgage that all who are involved have the details for.
Its irrelevant now...this is not the execs or brothers issue..their issue is wanting to sell to a stranger over me regardless of money offered...can you help with this?

It should be of concern to you. What you're doing is equivalent to the old self cert mortgages, but with even higher interest and less protection. No rational (non commission making) person is going to recommend that to you.

Your finance arrangement and your demeanour are going to be significant issues to the executor, selling to you is likely to cause more problems than it will solve. The executor has to achieve the best return for the estate, but that does not automatically mean the highest bidder wins, if there are doubts as to whether they will be able to complete.

Cakeguts

LellSasha wrote: »

I have tried my hardest to not get upset I just do not need peoples assumptions telling me what I think and feel without true fact...
the treated equally is what I have been trying to scratch the surface at..I know im emotionally sensitive to it all and will be seen to be feeling 'hard done by' but I needed to know if it falls under unfair treatment the way I think it does before I continued..thank you

So regarding the treated equally. You have two beneficiaries who want to sell the house as soon as possible and for the best price. You have one beneficiary who wants to buy the house but may take a long time to get their finances in order if ever (but probably much longer than the other people who have offered.) Now put yourself in the place of the executor and ask yourself what you would do in a similar situation with a vacant house?

moneyistooshorttomention

missbiggles1 wrote: »

To ensure that you do buy the house you need to make sure that your offer is higher and/or quicker than anybody else's. That's the only thing that matters.

In her position I would be offering exactly the same literally to the penny as the other would-be buyer basically. (EDIT; Make that £1 more than the other offer - so it is the best offer).

Followed by listing:

DEDUCTIONS FROM THAT;
- Money owed me by the brothers towards mortgage payments
- Money the brothers wouldnt have to pay out towards house clearance payments
- Proportional insurance costs on the house up to date of sale (ie one-third of the insurance bill for that period).

PLUS:
Rent for one-third of standard rent for an equivalent house after I stopped paying the mortgage

Obviously OP keeps the rental income from her friend - as she will be covering the two-thirds of rent the brothers would be due if the house were rented out to a stranger.

Obviously OP can move quicker than a stranger - even allowing for having to wait for 2 more month's worth of payslips (ie because the executor doesnt have to go through the whole palaver of kicking her/a tenant out of the place if they sell to her rather than a stranger).

EDIT; I believe the legal position is that anyone else living in the house with OP (even if they are a stranger - ie OP's friend) has to give their consent to the house being sold or the executor would have to get rid of them as a "sitting tenant" - which would take months.

LellSasha

missbiggles1 wrote: »

They have to do what's best for the estate. That will usually involve a higher offer but not if the situation is in any way precarious.

In a more normal transaction, vendors often accept a lower offer if a buyer is, for example, a cash buyer or, at the very least, in a position to proceed quickly. Your situation regarding bridging loans, pay slips etc is the sort of thing that would make many vendors decline your offer if there is a buyer in more straightforward circumstances in the offing.

as it has been explained to me my offer is more straightforward/quicker..the cash will be deposited into my account or if i wish the execs account. Mums mortgage is paid off. The boys are transferred their money. All fees are paid the whole time the solicitor and execs are sorting the correct paper work. The house is then legally owned by me. The execs have no more duty and the brothers are paid off.
as advised this is a week to 2 at most!! but then their all house and responsibility free....
Only on my side does it continue as I now have a hefty debt..the mortgage broker works with me to get a suitable mortgage to cover said debt...

LellSasha

Cakeguts wrote: »

So regarding the treated equally. You have two beneficiaries who want to sell the house as soon as possible and for the best price. You have one beneficiary who wants to buy the house but may take a long time to get their finances in order if ever (but probably much longer than the other people who have offered.) Now put yourself in the place of the executor and ask yourself what you would do in a similar situation with a vacant house?

you are missing so much info...keep up with the post or refrain from replying..
my process is quicker

missbiggles1

moneyistooshorttomention wrote: »

In her position I would be offering exactly the same literally to the penny as the other would-be buyer basically.

Followed by listing:

DEDUCTIONS FROM THAT;
- Money owed me by the brothers towards mortgage payments
- Money the brothers wouldnt have to pay out towards house clearance payments
- Proportional insurance costs on the house up to date of sale (ie one-third of the insurance bill for that period).

PLUS:
Rent for one-third of standard rent for an equivalent house after I stopped paying the mortgage

Obviously OP keeps the rental income from her friend - as she will be covering the two-thirds of rent the brothers would be due if the house were rented out to a stranger.

Obviously OP can move quicker than a stranger - even allowing for having to wait for 2 more month's worth of payslips (ie because the executor doesnt have to go through the whole palaver of kicking her/a tenant out of the place if they sell to her rather than a stranger).

EDIT; I believe the legal position is that anyone else living in the house with OP (even if they are a stranger - ie OP's friend) has to give their consent to the house being sold or the executor would have to get rid of them as a "sitting tenant" - which would take months.

Great - then the executors would simply sell it to the other (more straightforward) buyer.

LellSasha

bouicca21 wrote: »

The EA has told you that it won't be full fees if the house is taken off the market. But if you buy it, it hasn't been taken off the market, so full fees will be payable.

#
If they allow me to buy it then the sale has not been sold through the EA is what is meant therefore the EA fees arent payable..this conversation has already been had with the EAs..

DCFC79

LellSasha wrote: »

I dont want/need a different point of view!! I want to know if I have any power whatsoever in this situation...
you do not have the other side so dont assume it!!!!!!
I have given factual info all along disclosing personal and in some cases upsetting and embarrassing peices of info to give a true reflection of what is happening on both sides...all your making me do is tread old ground on explaining stuff already covered and quite frankly irrelevant...
they do not want the house can i make that any clearer! they want cash!! but because of a very tempermental family situation they dont want to make life easy for me at the same time !! Iv had enough if you have nothing constructive then you need to leave me be!

Maybe your brothers would rather have the cash rather than a share in a house and it's nothing to do with not making your life easy.

You said yourself 1 brother moved out as they had a baby with his girlfriend, he's most likely wanting the cash to assist with the costs having a baby has or to stash away for a house deposit in the future.

DCFC79

LellSasha wrote: »

as it has been explained to me my offer is more straightforward/quicker..the cash will be deposited into my account or if i wish the execs account. Mums mortgage is paid off. The boys are transferred their money. All fees are paid the whole time the solicitor and execs are sorting the correct paper work. The house is then legally owned by me. The execs have no more duty and the brothers are paid off.
as advised this is a week to 2 at most!! but then their all house and responsibility free....
Only on my side does it continue as I now have a hefty debt..the mortgage broker works with me to get a suitable mortgage to cover said debt...

It might go unnoticed but here goes.

You mentioned getting a bridging loan but what if you don't get a suitable mortgage ?

Cakeguts

LellSasha wrote: »

you are missing so much info...keep up with the post or refrain from replying..
my process is quicker

I don't think I have missed the info on everyone being treated equally have I? Could you please explain why you think you are entitled to your opinion and your brothers are not entitled to theirs?