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I have a problem with deciding what to do with a property in an estate. Here's the position:
- The property is valued at 93k in the probate documentation but has not sold for 6 months
- It is now valued at 85k 'offers invited' - none received.
- it clearly requires a new kitchen, bathroom and general modernisation - there have been >10 visits by potential buyers who have all said 'too much to do'
I believe it should be left as is (having taken advice from agents) and auctioned on a no sale no fee basis for 75k
My joint executors (sister & brother, the 3 of us are the only beneficiaries) wish to do some upgrading which I think is a waste of time & money & I am opposed to it.
Where do I as an executor stand?
Thanks
- The property is valued at 93k in the probate documentation but has not sold for 6 months
- It is now valued at 85k 'offers invited' - none received.
- it clearly requires a new kitchen, bathroom and general modernisation - there have been >10 visits by potential buyers who have all said 'too much to do'
I believe it should be left as is (having taken advice from agents) and auctioned on a no sale no fee basis for 75k
My joint executors (sister & brother, the 3 of us are the only beneficiaries) wish to do some upgrading which I think is a waste of time & money & I am opposed to it.
Where do I as an executor stand?
Thanks
