Cousin buying grandparents' house way below current market value

68ComebackSpecial

Your mother and aunt spoke "a few years ago" about sharing the sale proceeds between the four cousins but, given the recent passing of your father, your mother may no longer be in a financial position to make this gift. Instead of fretting about being potentially short changed on a gift - because that's what it would be, not an inheritance - you should be supporting your mother to understand her long term financial future now that her circumstances have changed as she may well have need of these funds herself.

sassyblue

MalMonroe said:

sassyblue said:

Can you ask to get a couple of estate agent's round yourself and compare them with the surveyor's valuation? Take the average of all three valuations.

The other bungalows could be in better streets, sounds like that bungalow does need quite a bit of work, you need to guess how much and remember other bungalows may be £250,000 but it doesn’t mean they sell for that much….

That's a terrible idea.

It's not even the OP's property and doing as you suggest is bound to just antagonise everyone and make matters worse. Plus the OP's father has just died and his Mum is suffering and grieving. Nobody wants to start family arguments when there's absolutely no necessity.

If the OP really believes the cousin is buying the property at a steal then whatever he suggests is likely to go down badly. With his own brother in the property at least valuations of his own could put his mind at rest.

NCC1701-A

In your other thread you said:

.... Bought our second house in town in 2016 with some financial help from our mother in law.... 

How did the rest of the family feel about you depriving them of their inheritance?

Alias_Omega

Nowt to do with the OP. 

If they feel put out, offer to buy it for £176,000. 

KxMx

You have no inheritance.
Your Mum is alive and entitled to change her mind and do what she wants with her assets and money.
She may need her money to fund care- it's a heck of a lot better to be able to fund and choose your care than having nothing and being at the mercy of council funding.

T.T.D

Forget it as inheritance as it’s not inheritance as you know it. 

What it actually is:

Your mum and aunt are selling a property, like you would sell a property, if mum wishes to share her portion of the sale proceeds with you thats down to her she doesn’t have to and could book a flight to Las Vagas and have a wild time on the casino’s because it’s her house (in part ownership) and it’s her money come time of the sale.