I'm one of three siblings. Our father has died, and his house is on the market. The highest offer we've received is £10,000 off the asking price, and the estate agent advised us to consider it as the market's slow. I think we should sell now, as the small amount of money from our father's estate that is covering costs such as Council Tax and energy will soon run out, but my siblings want to wait until the market picks up. Should I refuse to pay my share of the ongoing costs as they won't accept the reasonable offer?
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Money Moral Dilemma: Should I refuse to pay for the ongoing costs on our deceased father's house?

MSE_Kelvin
Posts: 375 MSE Staff

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Unfortunately the MSE team can't answer Money Moral Dilemma questions as contributions are emailed in or suggested in person. They are intended to be a point of debate and discussed at face value. Remember that behind each dilemma there is a real person so, as the forum rules say, please keep it kind and keep it clean.
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@mse_kelvin think you've copied and pasted last week's....2
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MSE_Kelvin said:This week's MoneySaver who wants advice asks...A recent fire at my house caused damage to my and my neighbours' properties. The damage to my place was small, which is a blessing, as I don't have home insurance. My neighbours' place suffered about £300 of damage, which is around the same amount as their excess, so they've asked me to pay them back for the repair costs. The fire was an accident, and I've been told that, legally, I don't have to pay them anything, but should I?Unfortunately the MSE team can't answer Money Moral Dilemma questions as contributions are emailed in or suggested in person. They are intended to be a point of debate and discussed at face value. Remember that behind each dilemma there is a real person so, as the forum rules say, please keep it kind and keep it clean.
If you haven’t already, join the forum to reply.
Got a Money Moral Dilemma of your own? Suggest an MMD.
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Money Moral Dilemma: Should I refuse to pay for the ongoing costs on our deceased father's house?
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user1977 said:@mse_kelvin think you've copied and pasted last week's....1
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LightFlare said:MSE_Kelvin said:This week's MoneySaver who wants advice asks...A recent fire at my house caused damage to my and my neighbours' properties. The damage to my place was small, which is a blessing, as I don't have home insurance. My neighbours' place suffered about £300 of damage, which is around the same amount as their excess, so they've asked me to pay them back for the repair costs. The fire was an accident, and I've been told that, legally, I don't have to pay them anything, but should I?Unfortunately the MSE team can't answer Money Moral Dilemma questions as contributions are emailed in or suggested in person. They are intended to be a point of debate and discussed at face value. Remember that behind each dilemma there is a real person so, as the forum rules say, please keep it kind and keep it clean.
If you haven’t already, join the forum to reply.
Got a Money Moral Dilemma of your own? Suggest an MMD.
View past Money Moral Dilemmas.
Money Moral Dilemma: Should I refuse to pay for the ongoing costs on our deceased father's house?
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£10,000 between the three siblings is only £3.333K each.
Call their bluff. Offer to take the hit yourself, you would be £6.6k out of pocket but you'll know if they're genuine or if something else is at play...
In such a situation, I would readily lose that just to bring things to a conclusion.
I would also never forget that the siblings are a couple of doughnuts...0 -
Lets say it is a cheap place, while £10k of £60k seems like a lot at 16% off its not wildly off especially if the house needs work (most probates do). You also have to weigh the cost of keeping the property. Things such insurance, council tax, utilities (it needs to be kept warm/dry), empty houses are more prone to issues so maintenance costs too etc... also remember the market can shift DOWN as well as up and the home deteriorates the long empty lowering its value.How long do you hold onto it before those cost cost more than the value of £3.3k?0
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For me it would depend on the quality of the buyer. If they seemed genuine and not in a long chain, I would take the opportunity to sell.1
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Who are the executors of the Estate ?0
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How long has the property been on the market? That would sway my decision.
We decided to sell our dad’s house before winter set in. Had it been early spring, we might have held out longer.
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You clearly have differing ambitions and expectations.
What make and model crystal ball are they using to support the estimation that market will pick up?
Who is executing the estate? Are they also beneficiaries?
For some access to "less" cash sooner rather than allowing a delay in the hope of achieving a better price later may be the most important aspect of realising the value. Jam tomorrow?
Two things to bear in mind, executors should optimise the value of the estate for the benefit of the beneficiaries and costs continue to fall to the estate until the house is disposed of.
How many months of, insurance, utilities costs, council tax, care and management of gardening etc would £10K provide? I would assess these ongoing costs and remind the executors of their overiding obligation and how it appears incompatible with their current actions.
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