Property left in will

Meg231

Hi, looking for advice please, I am the sole executor of my dad's house, I also inherit 1/3 of it. My 2 neices inherit 1/3 between them and my 3 nephews inherit the final 1/3 between them.  I have had the property valued by 4 estate agents, the first said 200 - 210k, at which point I asked my nieces and nephews how much they wanted me to pay to buy them out as I want the property, 1 nephew said he wanted more valuations as the price was too low and he wanted to see the will, he also rang the estate agent and questioned her valuation and tried to arrange a surveyor behind my back but as i am the only one with keys and the sole executor i refused. This is because the results would go to him not me.  I got 3 more valuations which were 175k, 170k and 160k to which he was fuming and now says I have had the estate agents fix the price for me and he is going to see a solicitor. I have told him I am happy to go with him and show the solicitor everything as I have not done anything wrong and have nothing to hide.  Do you think I should get a RICS survey done myself? Also, does probate decide the official house price or do I need to get them all to agree on a price? I am happy to pay what it is worth but not massively more just for him when all of the others are happy for me to pay a fair price. 

TonyMMM

As executor you would be perfectly entitled, and recommended in this circumstance, to get a RICS valuation  - the cost of it to be paid from the estate.

This would be better dealt with on the "Deaths, funerals & probate" board

MSE_ForumTeam5

We've moved this to the relevant board

Robin9

This is likely to roll and roll and all that will happen is that the family relationship will get worse.

Let him pay for his own RICS and and him a copy of the will.

Hoenir

Meg231 said:

Do you think I should get a RICS survey done myself? 

In what capacity would the RICS surveyor be working though. For you as an executor or beneficiary? 

Unless the property is put on the open market always be questions asked. 

Keep_pedalling

Frankly your best option is to put it on the market and sell it then distribute the proceeds. This avoided any accusation of self dealing, he can’t argue with the open market.

Meg231

Thank you, i want to buy the property myself and my dad wanted me to have it so putting it on the open market isn't really an option.

Meg231

Hoenir said:

Meg231 said:

Do you think I should get a RICS survey done myself? 

In what capacity would the RICS surveyor be working though. For you as an executor or beneficiary? 

Unless the property is put on the open market always be questions asked. 

Would the surveyor not just say the price he thinks it's worth regardless of who he is doing it for? 

Hoenir

Meg231 said:

Thank you, i want to buy the property myself and my dad wanted me to have it so putting it on the open market isn't really an option.

Then you need to sit down with the other parties concerned and thrash out a compromise. 

Meg231

Robin9 said:

This is likely to roll and roll and all that will happen is that the family relationship will get worse.

Let him pay for his own RICS and and him a copy of the will.

He already has a copy of the will. 

Meg231

I don't suppose anyone can explain this clause from the will for me please?
"Power to make any such appropriation as is authorised by section 41 of the administration of estates act 1925 but without being required to obtain any such consents as are referred to in that section (and even though one or more of my trustees may be beneficially interested in the appropriation)