How to agree over inherited house

Hello,

My brother and I have recently inherited our family home.
He wants to sell and I don't.
What's the fairest way of agreeing a price? I live outside the UK and have no idea of the costs involved to either party for the transaction.

Thanks

Comments

  • Three different EA's valuing the house for sale and take the average price they think it would fetch (ie price you'd get - as opposed to initial asking price) and you've established what you are both due to have each.

    Then it's up to you to buy out his share from him at 50% of that price - as you say you don't want to sell the house.
  • Farway
    Farway Posts: 13,208 Forumite
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    I assume probate has been granted?

    The house would have been valued as part of the estate would it not?

    In which case the job's done, apart from EAs & solicitor fees, which I guess would be fairly split 50/50
    Eight out of ten owners who expressed a preference said their cats preferred other peoples gardens
  • Savvy_Sue
    Savvy_Sue Posts: 46,018 Forumite
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    Just wondering, are you hoping that if you buy him out he'll take an interest and look after it for you? Because if you're abroad, you're going to need a plan for what to do with this house, including a local agent to deal with any problems.
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  • Art_Deco
    Art_Deco Posts: 188 Forumite
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    Me and my sister inherited my mums house when she died, I didnt want to sell it , too many memories, but she did so we got a couple of valuations , both roughly the same, i then got a mortgage to pay her half of the money,she spent the money on a couple of good family holidays, we sold our house and moved into mums, still there now.
  • Thank you for these replies. Probate has been granted but the deeds have not yet been transferred to our names. Is this necessary before my brother sells me his half or can the deeds be transferred solely to myself when the transaction is completed?
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