Brother Refusing to Leave Inherited Property

apReasonable2681

I'm an executor of my father's will, along with my older brother, and we're both beneficiaries. I live in the property with my younger brother, who refuses to leave. I've offered to move out simultaneously for fairness, but he insists on staying, claiming the sale price is too low, even though it's over £100k above the probate valuation.

We had three valuations, with two at £1.4 million and £1.5 million, but the house isn't worth that. We listed it at £1.225 million, received 30 viewings, and got four offers under £1 million and two at £1 million, which we negotiated up to £1.1 million. He doesn't understand that estate agents often give high valuations to attract clients.

He demands £25,000 from each executor to vacate. We accepted an offer of £1.125 million, but he demanded an extra £50,000 from the buyer, when she came over to view the property causing her to withdraw. There's no tenancy agreement for him, nor does the will allow him to stay. He's not an executor, and his adult son also lives there.

There are four beneficiaries: myself, my younger brother, my older brother (co-executor), and another younger brother. I honestly think he's just being greedy. What can I do? He has also never paid rent either.

My brother is fixated on the prices of 1.3 million to 1.5 million, even though we initially listed the property at 1.225 million to gauge market interest. I'm puzzled by his reluctance to consider a significant price reduction. Despite 30 viewings, many potential buyers have highlighted the extensive need for renovations in the property. He's worried that selling it for 1.1 million would result in a financial loss for him and has suggested that my other brother and I each contribute 25k, each or he won't vacate the property until his demands are met. He's even said things like, despite the fact that if the sale went through, we would each have received around 275k each. He doesn't he realize that while we'd prefer higher offers, we can't force buyers to pay more than what the property is realistically worth?

Malthusian

1. Move out.

2. Speak to a solicitor and start the process of evicting them. Thankfully he isn't an executor, so once they're out he can't interfere further. 

Once he is out you can put it back on the market. 

£50,000 is too high a demand for it to be worth bribing him to move out in the hope of avoiding the time and expense of a court case.

Voyager2002

The first thing about the original post that strikes the reader is the sheer emotion. That is not a good guide to making sensible decisions. 

Obviously it is difficult to know in advance how much a property can realise, while there is a big difference between the "quick sale" price and the maximum that could be achieved with patience and effective marketing. In your situation it is probably worth paying for a professional valuation. And I do suggest that you involve the 'problem' brother in choosing and commissioning the valuer and then in deciding what to do about the valuation and the advice received. And the beneficiaries need to decide how quickly the property needs to sell.

Shedman

How old is this younger brother, does he work or was he financially dependant on your father? 

apReasonable2681

Shedman said:

How old is this younger brother, does he work or was he financially dependant on your father? 

He is 50 years old and I'm 65, we all received 20k each from our late fathers savings account it's not like he can't move out and also he works full time.

Slinky

Are you in danger of losing a buyer and clocking up a fee from the estate agent for introducing a 'willing and proceedable buyer'? How much is the EA's fee on a £1m+ property? Try suggesting to the younger brother that this will be deducted from his share?

apReasonable2681

Slinky said:

Are you in danger of losing a buyer and clocking up a fee from the estate agent for introducing a 'willing and proceedable buyer'? How much is the EA's fee on a £1m+ property? Try suggesting to the younger brother that this will be deducted from his share?

The fee is 1.15 percent

thegreenone

Whatever you do, don't move out.  It will be even harder to get shot of him and his son if you do.

Whilst I understand it is his home and the deceased was his father too, he is not an executor and therefore has no say in matter.  I hope you can arrange viewings whilst he's at work from now on.

sheramber

Having received 30 viewings and only 4 offers under the asking price how long do you suggest they wait for an offer over the asking price?

apReasonable2681

sheramber said:

Having received 30 viewings and only 4 offers under the asking price how long do you suggest they wait for an offer over the asking price?

I very much doubt it will go that high Myself and My brother who is the co excutor are happy with that price anything above 1 million and 50 tbh.

apReasonable2681

thegreenone said:

Whatever you do, don't move out.  It will be even harder to get shot of him and his son if you do.

Whilst I understand it is his home and the deceased was his father too, he is not an executor and therefore has no say in matter.  I hope you can arrange viewings whilst he's at work from now on.

He mentioned that if we find another buyer, he won't move out when it's time to complete the sale. I believe it's best to hire a solicitor and proceed legally, as I know we have a strong case. We might even need to obtain a possession order, as I discussed this option with the solicitor handling the estate administration for the property.