Execs cant agree house price

Markp1984

Hi everyone, my Dad is an executor, along with his 2 brothers.

The Property has been listed at 185 for 3 months, in that time it's only had a dozen views and one offer, of 160.

Dad values it roughly at 155 to 160,so readily accepted the offer, the other 2 execs didn't. In the last week the 2 estate agents involved suggested moving the price down 5k (to 180)due to feedback about condition and location and the overall lack of interest.

Dad agreed, the others don't. This process hasnt been good from the start with several issues, the other 2 executors have been "gifted" all sorts from the house without any evidence, tv, computer, jewellery, anything of value. My Dad however just wants out, the property has major roofing issues and it would be great to sell it and not have a headache of it all.

They don't live near us, we don't see them face to face and they seem avoidant if they get a question on WhatsApp they don't like. We don't want things getting more silly and stressful. I thought maybe an independent valuation or mediator might help, but I'm not certain which, if either, i should get him to suggest first?

Thanks for any help at all.

flaneurs_lobster

Do we assume that the three brothers are also the sole beneficiaries of the property sale?

Reed_Richards

How about if your dad agrees to take £50k (or a bit more) to buy-out his share of the house? I'm assuming the three brothers each inherit a 1/3 share of the house.

Baldytyke88

A relative used the Modern Method of Auction, which provides speed and security for everyone
involved, and is trusted by over 7,000 Estate Agency branches across the UK. The house was rather run down and fetched less than a valuation a couple of years previously.

It sold for £230k, when it was valued by an estate agent at £250k; but that was the estate agent, not a real valuation. I advertised it locally, the auction starting price was £175k but it sold for £230k

https://www.iamsold.co.uk/

If they cannot agree, an auction is a good way to sell, the fees were £6k paid by the buyer, better to sell for £160

Markp1984

https://forums.moneysavingexpert.com/discussion/comment/82087301#Comment_82087301

Just about, 3 other distant relatives get 1k each. Thanks

Markp1984

https://forums.moneysavingexpert.com/discussion/comment/82087367#Comment_82087367

Excellent suggestion, much appreciated.

Markp1984

https://forums.moneysavingexpert.com/discussion/comment/82087316#Comment_82087316

Yes my Dad would definitely like that, and maybe they'll think it's good value enough to purchase for themselves or to resell. I'll suggest it, ty very much.

elsien

https://forums.moneysavingexpert.com/discussion/comment/82087367#Comment_82087367

I have heard rather less complimentary things said on here about the modern method of auction, although that possibly applies more to buyers rather than sellers. As a buyer, it would put me off. I’m not up for paying a hefty nonrefundable deposit.

Is that little summary AI derived by any chance, because it certainly doesn’t give the full picture.