Selling an inherited house

Roish

Hi, could anyone give us some independent advice about a house that myself and my siblings have inherited. The solicitor seems very keen to sell the house and add the funds to the estate however, I am unsure about whether we should sell the house ourselves. Our only inheritance was the house itself and not the rest of the estate. Can anyone e shed any light on this, ta

RAS

Who exactly are the executors of the estate? 

Olinda99

if the will says that you and your siblings get the house then that is exactly what you get i.e you don't get the cash resulting from the sale of the house, you get the house itself

Savvy_Sue

If you don't sell it, what will you do with it? The solicitor may just be being pragmatic.

Olinda99 said:

if the will says that you and your siblings get the house then that is exactly what you get i.e you don't get the cash resulting from the sale of the house, you get the house itself

Of course, if the will says you get the proceeds of selling the house, then cracking on seems very sensible. 

So which is it?

Keep_pedalling

Olinda99 said:

if the will says that you and your siblings get the house then that is exactly what you get i.e you don't get the cash resulting from the sale of the house, you get the house itself

Utter rubbish! The beneficiaries can instruct the executor to sell and receive their inheritance in cash.

Keep_pedalling

If the solicitor is the executor and you want the cash then the solicitor should do the selling. You could get the executor to transfer the house in to your names and then you sell it but that would involve more expense and if either of you don’t already own a house it would lose you your first time buyer status.

I am assuming here that the executor has already started to administer the estate and it is too late for you to ask them to renounce and you take over the administration.

gwynlas

In order to get the best price for the house you might need some involvement prior to sale eg clearing and tidying house and garden. The executor needs to sell in order for you and your siblings to get your cash unless of course one of you wishes to offer on the house by negociation. Be aware probate could take some time and the house will require looking after over the winter.

Olinda99

Keep_pedalling said:

Olinda99 said:

if the will says that you and your siblings get the house then that is exactly what you get i.e you don't get the cash resulting from the sale of the house, you get the house itself

Utter rubbish! The beneficiaries can instruct the executor to sell and receive their inheritance in cash.

of course they can! but not the other way round which is what appears to be happening here

also what I said was correct if the deceased owns a house and leaves it to you then you inherit a house you do not inherit the cash. if you subsequently decide to sell it then obviously you get the cash but that's not what you inherit