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Completion: Buying out siblings
E201
Posts: 25 Forumite
Good afternoon,
I am being faced with a situation that I haven't experienced before.
My siblings and I have agreed on the price of our family home (£825,000). There have been some delays with drawing up documents due to lawyers being on holiday. My siblings' lawyer gave a 2 week notice to finalise the completion by today (31 July) or they will raise the offer by £10k. I'm totally confused by what to do and feel somehow betrayed. I have a call with my lawyer in the morning so any tips or advice would be greatly appreciated.
Best wishes
I am being faced with a situation that I haven't experienced before.
My siblings and I have agreed on the price of our family home (£825,000). There have been some delays with drawing up documents due to lawyers being on holiday. My siblings' lawyer gave a 2 week notice to finalise the completion by today (31 July) or they will raise the offer by £10k. I'm totally confused by what to do and feel somehow betrayed. I have a call with my lawyer in the morning so any tips or advice would be greatly appreciated.
Best wishes
0
Comments
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So your siblings are blackmailing you in to an early completion when you're not got everything prepared? Or their lawyer is just being nasty?
You could try to call their bluff and say "ok put it on the market and don't forget you're responsible for the estate agent fees".I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe and Old Style Money Saving boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
"Never retract, never explain, never apologise; get things done and let them howl.” Nellie McClung1 -
Say no. Then await the next move.0
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Ignore. It isn't going to speed anything up.
or retaliate by reducing your offer0 -
Tell them prices are dropping and you might get it revalued for less.
Decluttering, 20 mins / day Jan 2024 2/20 -
They are?oystercatcher said:Tell them prices are dropping and you might get it revalued for less.
https://www.nationwidehousepriceindex.co.uk/reports/house-price-growth-edged-up-in-july
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Interesting ! They appear to be dropping here but I am not an en expert by any means!newsgroupmonkey_ said:
They are?oystercatcher said:Tell them prices are dropping and you might get it revalued for less.
https://www.nationwidehousepriceindex.co.uk/reports/house-price-growth-edged-up-in-july
Decluttering, 20 mins / day Jan 2024 2/20 -
Given the accuracy of valuations, I'm not sure the general market trends in either direction are a strong argument for or against this 1% change.oystercatcher said:
Interesting ! They appear to be dropping here but I am not an en expert by any means!newsgroupmonkey_ said:
They are?oystercatcher said:Tell them prices are dropping and you might get it revalued for less.
https://www.nationwidehousepriceindex.co.uk/reports/house-price-growth-edged-up-in-july0 -
What happened OP? Did they raise the price? It seems a silly thing to threaten - if you can't complete, then you can't complete and solicitors know that0
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Call your siblings and speak to themE201 said:...advice would be greatly appreciated ...0 -
My response was Oystercatcher saying that house prices were dipping. I'd agree that 1% odd change either way makes no real odds.BarelySentientAI said:Given the accuracy of valuations, I'm not sure the general market trends in either direction are a strong argument for or against this 1% change.
I was just showing that there was no evidence to support a dip in prices countrywide.
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