The material on this website is for information only
and is not intended as any recommendation or endorsement of any products or companies mentioned. We are not licensed by the FSA to give financial advice, and none of the material on this website constitutes or is intended to constitute financial ...
News
This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news
Sky NewsRothesay leads race for £900m state-owned equity release loansSky NewsWhen it was established, UKAR largely consisted of mortgage loans issued by Bradford & Bingley and Northern Rock, both of which had to be nationalised. The Treasury-backed agency said in June that it had launched a process to offload the equity release ...and more »
FT AdviserLender reports younger mortgage borrowersFT Adviser... starts to rise many monthly mortgage repayments cost less than rent so consumers are better off." Ms Graham said research conducted by the lender's digital banking service earlier this year found 75 per cent of the UK population were worried about ...
The SunCar hire insurance is 13 times more expensive with rental firms – how to get it cheapestThe Sun"Car rental companies will block out a large amount on your credit card, and if you have an accident, they'll withdraw that money and you'll have to claim it back from the third party provider," he says. "But if you can afford it, there's no reason why ...
ForbesHow The British Airways Breach Will Reveal The True Cost Of GDPRForbesIn fact, he says, credit card and bank account numbers “are all easy to replace” and “money can always be refunded”. “What you can't change – or is far more difficult to change – is your national insurance number or date of birth, so it's far more ...and more »
Have you met...
Latest Members:


mohammadasad


MS OFFICE


joker


laceygua


webtechcoupons


seanmaxwell


shimaashaker

 

Setting the selling price for a property. <br />

Can you inform what my wife's rights are in regards to selling her late parent's Bungalow? She has a 25% share, with the remaining 75% belonging to her sister.

The unequal split was the result of her mother's will,which gave her share to her sister, which my wife did realise at the time. When her dad died two years later, he split his share 50:50. Originally, as we suspected her mother had done the same. But due to my wife's sister giving away the money allocated to her to buy a house by her mother(my wife was treated equally), my wife is now in this position.

The house is currently empty and up for sale. Her sister has appointed an estate agent and since last year the house has been reduced by£15,000.

What are my wife's rights in setting the sale price etc

Setting the sale price for any property is ultimately up to the people who have the right to sell the property - the owners of the property or the executor(s) of an estate.

Most people set the sale price after consultation with an estate agent, or estate agents, and contract one or more agents to carry out the sale.

Is your wife's sister the executor of the will? If so are there also other executors? The executors have the responsibility for carrying out the wishes expressed in a will. If the house was to be sold and the proceeds of the sale divided 75/25 the executor (s) have the responsibility of getting the best possible price for the house for the benefit of the beneficiaries. If the estate has already been dealt with and the property has been transferred into your wife's and her sister's names and they have agreed to sell it they can both discuss and agree the sale price with the agents. 

If an estate agent values a property he or she will be very reluctant to handle that sale if the client insists on asking for a much higher price. An agent may also advise a client to reduce the sale price if a buyer isn't found and/or the value of properties in the area is falling. Equally the seller might discuss with the agent the option of reducing the price for a quicker sale. Your wife's sister is probably taking the advice of her estate agent in reducing the sale price because the house has been on the market since last year.

If your wife's name is already on the deeds of the property she will have to agree to sell it at whatever price is eventually offered by a buyer before it's sold. If she's worried about the price being asked for the property she should talk to her sister about both sitting down with the estate agent to discuss the next move.

Without knowing the terms of your wife's father's will it hard to advise further but I hope this helps.

Read more questions ...
Advertise with us  |  Privacy  |  Terms & Copyright                                                                                     Website maintained by USP Networks