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Hi
thanks for adding me to the group.
Hopefully somebody can give me some advice or certainly some pointers.
Sadly my mum passed away last September. I’m quiet upset with loosing my mum. but the whole mourning process has been over shadowed by my family and selling the house. My issue is what has happened to my mums house up until this point. The house has to be sold as it is being divided equally. amongst my brothers and sisters.
plus there is equity release with prudential which is now the main issue. I am a beneficiary not an executor.
Since my mum passed away in September the executors upon advice by estate agents cleared the garden and removed loads of trees and landscaped it. The money used was my mums savings but also one of the executors is now owed £3500 as they added the funds because my mums money ran out. So the executor will be repaid once the house sells. None of us where told that the executor was having to spend there own money. We had several disagreements about doing so much work to the garden. Which in my opinion was not necessary. It also took several months to complete delaying the house going in the market. the work plus the house was decorated and the roof was repaired. I have no issue with the roof or the decorating as they needed to be done. The house went on the market one week before the Covid lockdown. Perfect timing. Which meant no viewings but the house was on the Internet for sale with the estate agent. when the lockdown was eased there started to be some viewings. The executors took the very first offer which we didn’t agree with because it was under the valuation but non the less the executors accepted it. The buyers then pulled out of the sale 2 weeks later. The executors
had taken the house off the market. which in my opinion they should have put it on under offer to attract other potential buyers. we have now received a new offer £30,000 below the asking price. This is well below the first offer that was accepted . The executors have taken the house off the market again with out stating under offer. I have said to them you are selling the house now too cheap.
Now the bit I really need the help with. their reasoning is because of the prudential equity release want their money by August 2020. I have said that prudential are being unreasonable for the prudential to put pressure on us to sell the house by August.
because the market place has only been open a few weeks because of covid. The executors have said But the Prudential are adamant they will repossess and only give us a 2 week extension, I have now spoken to the prudential myself and they have said no that is not the case as long as the house is being actively been marketed and up for sale we would only repossess as a last resort. We encourage executors to get the best possible price. So the executors are scare mongering to get the beneficiaries to just accept any sale not the best price. Hence to say I’m furious this was my parents house there legacy to us. I know they would have wanted us to get the best price for the house.
There is a WhatsApp group set up so we can see what is going on but seems to be a bit one way. I have asked if the executors have it in writing from the Prudential about the date but they have not replied. now I hope that this is not the case but I do realise the executors now just want the house sold. As more than likely fed up with it all. Both executors are financially very secure ie no mortgage etc the main executor is a millionaire the one that is actually doing all the work. The other executor is merely along for the ride as he just does not care tbh. None of the beneficiaries are in the same financial position as the executors. Thanks in advance for any advice what we can or could do to remedy the situation as the executors are clearly under selling the house for a quick sale which is not necessary . What can I do as a beneficiary I am aware I could sue them for underselling the house but is that even worth doing. at the maybe get a rics valuation that sort of thing but I’d much rather do something now before the sale goes through.
thanks for adding me to the group.
Hopefully somebody can give me some advice or certainly some pointers.
Sadly my mum passed away last September. I’m quiet upset with loosing my mum. but the whole mourning process has been over shadowed by my family and selling the house. My issue is what has happened to my mums house up until this point. The house has to be sold as it is being divided equally. amongst my brothers and sisters.
plus there is equity release with prudential which is now the main issue. I am a beneficiary not an executor.
Since my mum passed away in September the executors upon advice by estate agents cleared the garden and removed loads of trees and landscaped it. The money used was my mums savings but also one of the executors is now owed £3500 as they added the funds because my mums money ran out. So the executor will be repaid once the house sells. None of us where told that the executor was having to spend there own money. We had several disagreements about doing so much work to the garden. Which in my opinion was not necessary. It also took several months to complete delaying the house going in the market. the work plus the house was decorated and the roof was repaired. I have no issue with the roof or the decorating as they needed to be done. The house went on the market one week before the Covid lockdown. Perfect timing. Which meant no viewings but the house was on the Internet for sale with the estate agent. when the lockdown was eased there started to be some viewings. The executors took the very first offer which we didn’t agree with because it was under the valuation but non the less the executors accepted it. The buyers then pulled out of the sale 2 weeks later. The executors
had taken the house off the market. which in my opinion they should have put it on under offer to attract other potential buyers. we have now received a new offer £30,000 below the asking price. This is well below the first offer that was accepted . The executors have taken the house off the market again with out stating under offer. I have said to them you are selling the house now too cheap.
Now the bit I really need the help with. their reasoning is because of the prudential equity release want their money by August 2020. I have said that prudential are being unreasonable for the prudential to put pressure on us to sell the house by August.
because the market place has only been open a few weeks because of covid. The executors have said But the Prudential are adamant they will repossess and only give us a 2 week extension, I have now spoken to the prudential myself and they have said no that is not the case as long as the house is being actively been marketed and up for sale we would only repossess as a last resort. We encourage executors to get the best possible price. So the executors are scare mongering to get the beneficiaries to just accept any sale not the best price. Hence to say I’m furious this was my parents house there legacy to us. I know they would have wanted us to get the best price for the house.
There is a WhatsApp group set up so we can see what is going on but seems to be a bit one way. I have asked if the executors have it in writing from the Prudential about the date but they have not replied. now I hope that this is not the case but I do realise the executors now just want the house sold. As more than likely fed up with it all. Both executors are financially very secure ie no mortgage etc the main executor is a millionaire the one that is actually doing all the work. The other executor is merely along for the ride as he just does not care tbh. None of the beneficiaries are in the same financial position as the executors. Thanks in advance for any advice what we can or could do to remedy the situation as the executors are clearly under selling the house for a quick sale which is not necessary . What can I do as a beneficiary I am aware I could sue them for underselling the house but is that even worth doing. at the maybe get a rics valuation that sort of thing but I’d much rather do something now before the sale goes through.
