Selling Inherited House

G_M

gryphon wrote: »

The deceased's solicitor is the executor ans says it would be a conflict of interests for them to be selling for my father.

??


What is the conflict of interest?


They would not be 'selling for your father' as your father does not own. hey wuld be selling for the Estate, and then giving the proceeds to your father (unless he disclaimed).


Maybe David knows - but I don't see it. Or is this a Scottish thing?

gryphon

G_M wrote: »

??


What is the conflict of interest?


They would not be 'selling for your father' as your father does not own. hey wuld be selling for the Estate, and then giving the proceeds to your father (unless he disclaimed).


Maybe David knows - but I don't see it. Or is this a Scottish thing?

The house has been bequeathed to my father in the woman's will, so when the estate is finalized he'll own the house.

davidmcn

gryphon wrote: »

The house has been bequeathed to my father in the woman's will, so when the estate is finalized he'll own the house.

Yes, we understand that, we just don't see why it would be a conflict of interest.

foxy-stoat

Not sure why you would ask a solicitor to sell a property for a beneficiary and charge £100 + vat an hour for doing so....as well as paying Estate Agent fees.

gryphon

They've stated it would be, so i'm happy to go with that. They have passed the details onto another estate agents/solicitors who have sent my dad a quote of what they would charge but stressed we did not have to go with them. We are currently going round a few agents to see what they're selling cost will be.

Before anything we want to go to a solicitor who can best advice the route to go that least effects dad, my brother and myself.

Was just wanting some direction from here as well.

Thanks

gryphon

foxy-stoat wrote: »

Not sure why you would ask a solicitor to sell a property for a beneficiary and charge £100 + vat an hour for doing so....as well as paying Estate Agent fees.

We are not asking anybody to sell anything at the moment.

Firstly because dad/ourselves don't own the house just yet.

Secondly, we want to find out our best options before executor asks dad to you want the house signed over to you or your sons.

Slithery

gryphon wrote: »

Secondly, we want to find out our best options before executor asks dad to you want the house signed over to you or your sons.

Neither of those are the best option if the property is going to be sold. As already mentioned you should get the executors to sell the property and then pass the money to either you or your father.

xylophone

Can the will not be varied so that it directs the executor to sell and pass the proceeds to the OP and his brother?

https://www.russelaitken.com/journal/articles/59b8e637-the-will-to-change

https://www.gov.uk/alter-a-will-after-a-death

tlc678910

Hi OP,
If you or your brother do not yet own property you might want to look into if you will miss out on any first time buyer benefits if the property is held in your names even briefly as in some instances you will no longer be considered first time buyers.

It can be difficult for someone to get a mortgage if a property is for sale that has been owned less than six months so that might also be something to make enquiries about. House might be harder to sell or take time.

Sorry I don't know how these specifically relate to Scotland but things to consider.
Tlc

gryphon

tlc678910 wrote: »

Hi OP,
If you or your brother do not yet own property you might want to look into if you will miss out on any first time buyer benefits if the property is held in your names even briefly as in some instances you will no longer be considered first time buyers.

It can be difficult for someone to get a mortgage if a property is for sale that has been owned less than six months so that might also be something to make enquiries about. House might be harder to sell or take time.

Sorry I don't know how these specifically relate to Scotland but things to consider.
Tlc

Cheers, we've both had a few properties over the years.