Executors can't agree on house sale

[Losingallhope]

My husband and his brother are executors to their late mothers estate who passed away in earlier this year. Probate has been granted and the house has been on the market for 6 months and they have been receiving offers on the property, but for £20-30k less than the asking price, I would like to point out it is in serious need of modernisation. My husband feels that these offers are reasonable and they should accept, however the other executor (his brother) refuses point blank to accept anything below the asking price, which is just not realistic. The estate agents agree with my husband that the offers being received are in line for the condition of the house, but my brother in law can't see that houses in the same road are in better condition and are up for the same asking price.

This is causing nothing but bad feeling and unbelievable friction between the two of them, my husband is willing to sit down discuss, his brother just refuses. I have suggested that they go to the solicitor that dealt with the probate and let them mediate but again the other executor has said no as this will cost money. I don't know what else to suggest to move things along. Can anyone help??

[Openlaw15]

Re: Executors can't agree on house sale

My husband and his brother are executors to their late mothers estate who passed away in earlier this year. Probate has been granted and the house has been on the market for 6 months and they have been receiving offers on the property, but for £20-30k less than the asking price, I would like to point out it is in serious need of modernisation. My husband feels that these offers are reasonable and they should accept, however the other executor (his brother) refuses point blank to accept anything below the asking price, which is just not realistic. The estate agents agree with my husband that the offers being received are in line for the condition of the house, but my brother in law can't see that houses in the same road are in better condition and are up for the same asking price.

This is causing nothing but bad feeling and unbelievable friction between the two of them, my husband is willing to sit down discuss, his brother just refuses. I have suggested that they go to the solicitor that dealt with the probate and let them mediate but again the other executor has said no as this will cost money. I don't know what else to suggest to move things along. Can anyone help??

An executor role is in effect a role of care and trust for the respect of the dead person whose estate they're distributing. So, they should be objective and not put their view on things but instead adopt their late mother's view (via the Will). The unreasonable brother should be informed if there are problems and lawyers get involved, the onus will be on him as far as any costs go. They're (the costs) not going to be taken from the estate.

[enaid]

Re: Executors can't agree on house sale

Who set the asking price ? really at least 2 valuations should be taken before putting it up for sale and what was the value given to the probate office?
Not sure about your LA but ours would be seeking Council Tax on the property about now, that needs considering.
Anything is only worth what someone is willing to pay for it and the longer it is left unkempt the less the value will be.

[des8]

Re: Executors can't agree on house sale

Presumably the executors are also the trustees, hence agreement of both is required.
If the asking price is not being reached has either suggested auctioning the property.
If agreement is still not attainable a beneficiary can apply to the court for an order requiring the executors to sell the property within a given time frame. Alternatively the court could put the sale in the hands of a single executor or a third party.