Executor excluding benificiary

bouicca21

The EA fees will be payable. You don't know whether you will be able to get a mortgage (have you even got an agreement on principle?), you have no recent employment history, you have no idea what a bank would value the house at or what might turn up as work that needs doing as a result of their valuation, yet you are prepared to commit to a very expensive and potentially open ended bridging loan? I think the executors may well be doing you a favour.

moneyistooshorttomention

I guess we can presume OP has done her homework, ie:

- checked what price similar houses sell at
- she is certainly planning on holding out until she has that total of 3 months payslips for mortgage purposes
- presumably she has an agreement in principle of a mortgage (subject to getting those further 2 payslips)
- presumably she has worked out what work would need doing/cost/urgency or otherwise etc and whether the mortgage company she has chosen would be likely to put any retentions on this

LellSasha

itchyfeet123 wrote: »

If you're determined to buy the house yourself, that could be the leverage you need. Tell your brothers that if they let you buy, they'll get to keep the full 1/3 of the sale price minus mortgage etc each. If not, you intend to collect from them them 2/3 of the amount you paid for the mortgage.

I havent deducted purposely because I have been trying to keep it sweet and 'in their favour' as much as possible...
I already have a friend staying with me temporarily who will prob stay with me in the long run and contribute towards all bills...this has been discussed.
I am due at court next month to give evidence against the brother and a type of order has been requested.
Thank you for the support it seems deep rooted emotions and the fear of being uprooted after everything I have already had to go through itsnt a good enough reason to WANT to buy a house. I know that doesnt help legally but understanding is free and it wasnt such a big deal to me I would have given in a long time ago..so thank you x

Cakeguts

You don't get to keep the furniture and fittings in the house. They belong to the three of you in equal amounts. Reading between the lines it sounds to me that the brothers are worried that you are trying to keep the house the same as it was when your mother lived there. If you get to buy this house what you will get is a house. An empty space to live in. It won't be your mother's house anymore it will just be a house no different from any other house.

I feel that there is more to this story than you are telling us. Your brothers are as entitled to have the house sold as you are to keep it. You do not have any more entitlement to live there than your brothers have to have the house sold. Actually you are less entitled because two of the beneficiaries have indicated that they would like the house to be sold. They are as entitled to that opinion as you are to yours and it isn't about money or what you have offered it is what they want. At the moment you are behaving as if you are entitled to have what you want regardless of how they feel about the situation.

The kind thing to do would be to let the house be sold and for you to buy another one. The one you buy will also be your house. I think you will also find that this action would be more peaceful for you in the future.

moneyistooshorttomention

Personally - I sympathise with OP.

If one or both of the brothers wanted the house themselves AND neither of them was violent = that would be a different situation.

But - the thing is that neither of them wants it themselves and one of them has been violent to OP.

Basically - they are being deliberately b*tchy to OP and that's not on.

As for furniture, etc, in the house - I imagine OP is well aware of the value (or otherwise) of it. Quite frankly - a probate house of old-fashioned/well-used furniture is something the brothers would probably have to pay a house clearance firm to take away if they manage to succeed with their b*tchiness.

Speaking of which - I think that is another leverage point OP can use against those brothers of hers. That being - that, if she gets to be able to buy the house - then they won't have to cover a third each of the cost of getting said house clearance firm in to clear the house. She could just say she'll leave the furniture be if she is the one that gets to buy the house. However - these other buyers would require the house to be cleared - and they'd have to fork out their share of the costs to do so.

lynz68

I think you need to take the emotion out of this situation and look at it practically.

While you have spoken to a mortgage broker they cannot guarantee a mortgage. With a very short work history lenders may not be willing to lend to you or you could end up with a very expensive mortgage.

Seeing as you have only started work are you in a probationary period again lenders may not like this. Any lender is going to require a valuation what if there valuation is lower than what you have paid? You can't maintain a bridging loan forever.

Sorry for your loss but really the best situation is for everyone to move on. A house is bricks and mortar you keeps your memories with you. Im not trying to be harsh I lost both my parents within 6 months of each other at the age of 24 so really I do understand the emotional attachment.

LellSasha

bouicca21 wrote: »

The EA fees will be payable. You don't know whether you will be able to get a mortgage (have you even got an agreement on principle?), you have no recent employment history, you have no idea what a bank would value the house at or what might turn up as work that needs doing as a result of their valuation, yet you are prepared to commit to a very expensive and potentially open ended bridging loan? I think the executors may well be doing you a favour.

moneyistooshorttomention wrote: »

I guess we can presume OP has done her homework, ie:

- checked what price similar houses sell at
- she is certainly planning on holding out until she has that total of 3 months payslips for mortgage purposes
- presumably she has an agreement in principle of a mortgage (subject to getting those further 2 payslips)
- presumably she has worked out what work would need doing/cost/urgency or otherwise etc and whether the mortgage company she has chosen would be likely to put any retentions on this

I have stated time and time again that I have been working with an advisor and a lender..

yes I do have an agreement on principle..
I DO have an employment history - I just havent worked enough hours hence needing 3 payslips from a new contract with higher hours and better pay...
I have been given the details on both how the loan and mortgage are going to work in conjuction with each other...Im not pretending to be an expert but it has been explained to me and if I had any major concerns then I know it would be stupid to continue...
The mortgage advisor did not go down the route of a bridging loan until we were sure a mortgage was realistic..it was proven that all I needed were 3 months worth of payslips only when we realised we didnt have 3months (thanks to the other offer) did we move fast for a bridging loan to get the necessary money out there to see everybody off whilst I work towards what I need for the mortgage. Im new to this not daft and if I thought in the long run it wasnt going to worth it I wouldnt be stressing myself so much to get the execs to see reason!

LellSasha

lynz68 wrote: »

I think you need to take the emotion out of this situation and look at it practically.

While you have spoken to a mortgage broker they cannot guarantee a mortgage. With a very short work history lenders may not be willing to lend to you or you could end up with a very expensive mortgage.

Seeing as you have only started work are you in a probationary period again lenders may not like this. Any lender is going to require a valuation what if there valuation is lower than what you have paid? You can't maintain a bridging loan forever.

Sorry for your loss but really the best situation is for everyone to move on. A house is bricks and mortar you keeps your memories with you. Im not trying to be harsh I lost both my parents within 6 months of each other at the age of 24 so really I do understand the emotional attachment.

no mortgage is a garuntee but I have time to work towards what I need with the help of a reasonable bridging loan. What I will be lending is far cry from the valuation as I am not buying my own third....this has all been explained to me and your reply is guess work...it goes beyond emotional attachment and to be honest Im quite sick of that response..Im able to buy a house one way or another..this house...its the one that I want ..that I'd like to remain in for the forseeable and I'm simply trying to find out whether certain people have the powers to prevent or is there something I can be doing to stop them.

getmore4less

AdrianC wrote: »

If probate's been granted, then the mortgage must have been resolved.

With such a fundamental lack of understanding of the estate administration process any further comment is suspect.

(a lot of posts since that was posted so this glaring error may have been highlighted already)

Cakeguts

LellSasha wrote: »

I have stated time and time again that I have been working with an advisor and a lender..

yes I do have an agreement on principle..
I DO have an employment history - I just havent worked enough hours hence needing 3 payslips from a new contract with higher hours and better pay...
I have been given the details on both how the loan and mortgage are going to work in conjuction with each other...Im not pretending to be an expert but it has been explained to me and if I had any major concerns then I know it would be stupid to continue...
The mortgage advisor did not go down the route of a bridging loan until we were sure a mortgage was realistic..it was proven that all I needed were 3 months worth of payslips only when we realised we didnt have 3months (thanks to the other offer) did we move fast for a bridging loan to get the necessary money out there to see everybody off whilst I work towards what I need for the mortgage. Im new to this not daft and if I thought in the long run it wasnt going to worth it I wouldnt be stressing myself so much to get the execs to see reason!

It isn't worth it in the long run. If you buy this house and spend a lot of money on it doing it up and then sometime in the future sell it for more than you have paid now you will create a lot of ill feeling. A house can be replaced. Brothers can never be replaced. You are fighting with your brothers over a pile of bricks. It is completely ridiculous. There is also something wrong here with you and your attachment to this particular pile of bricks. I tend to think that people are more important than things. Your emotions over the death of your mother are interfering with your relationship with your brothers who have also lost their mother. Rather than fighting them you should all be supporting each other but sadly a pile of bricks has got all your attention.

It is time now to let go. This house is no longer your mother's house it is just a house. It will soon just be an empty house. What you need to do is to buy a house of your own one that when you come to sell it you can't be accused of buying it cheaply to cheat your brother's out of their inheritance. Your uncle is doing a really really good job to try and help you maintain your relationship with your brothers.