Viewing 28 posts - 41 through 68 (of 68 total)
  • Father died and then the Vultures arrived!
  • Hairychested
    Free Member

    OP, get a solicitor, ask them for advice, seek expert opinion. Family or not don’t let them rob you or anybody else. And talk to people here, vastly therapeutic.
    All the best to you and sorry about your Dad.

    monkeycmonkeydo
    Free Member

    Ok,it comes down to this.Sell up(if were lucky)and have a load of cash.Or,accept the house,have somewhere to live but less money.Plus repairs to do.Oh and some repairs to do.Thanks for any ideas.The Apes.

    user-removed
    Free Member

    Mortgage free property? Have it! Repairs surely less than a couple of years of rent money?

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    TandemJeremy
    Free Member

    If you like the house? Want to live in it?

    MrNutt
    Free Member

    lock everything down and tell people that you need time.

    monkeycmonkeydo
    Free Member

    Thanks guys,don,t worry Nutt i,m thinking it all over.Have been thinking about staying,simply because that,s the easy thing to do.But is the easy way the best way?

    spooky_b329
    Full Member

    What sort of state is the house in. Would you be doing repairs yourself? Or find the cash (possibly remortgage the house) to pay someone to do it for you? Obviously you don’t really want to remortgage, but if it means you can spend £25k and realistically sell for £50k, or have no intention of doing the repairs yourself but it allows you to live there happily, it might be worth considering.

    Got a photo of the house? Don’t know if we are talking about a mid-terrace or a rambling old detached house in the middle of no-where.

    konabunny
    Free Member

    oh my goodness, OP. Condolences about your father, and then sympathy for what happens next. Nightmare.

    Just about anyone else here will be better informed about property but seeing as the interest rate on money is low, if:

    – a) you’re renting at the moment
    – b) you’d want to live there

    The money you’d save on rent would surely be more than the return you’d get from taking the money and putting it in the bank. Wouldn’t it?

    But at this point you might not want to move everything, go through the hassle etc.

    monkeycmonkeydo
    Free Member

    After rushing everything through,probate has been granted on my Fathers estate.After only 4 months since my fathers death i now face a difficult choice.I can only stay in my home if i get the lawyer/executer to accept they,ve overvalued the property.Should i just make a reasonable offer and hope they see sense?

    Tracker1972
    Free Member

    Could you get a few estate agents to value the property to support your idea of the value? That at least would be free. Either way, glad things are moving and it should soon be behind you.

    totalshell
    Full Member

    the one thing not to do is rush.. a property is only worth what someones prepared to pay for it. dont take some estate agents valuation as a fact even if its one of half a dozen valuations pound notes is what counts and thats all its worth.

    monkeycmonkeydo
    Free Member

    Does anybody know if once probate has been granted,can valuations on things like housing be challenged.Cheers for all your help,the apes.

    Woody
    Free Member

    Monkey

    Did you take the advice of almost everyone who has posted and get your own solicitor? It doesn’t sound like you did if you are still not happy with things.

    As for making an offer on the property, and depending on the market in your area, it may well be worth making an ‘under-valuation’ offer if all the ‘vultures’ want to do is get their hands on the money quickly.

    Did I mention – see a solicitor. You’ll need one anyway if you buy the house and they can give you advice at the same time.

    monkeycmonkeydo
    Free Member

    I am not going to buy the house.I will just be given it as my share of the will

    ilovemygears
    Free Member

    i would first get in touch with the police and then a solicitor as a matter of urgency.

    BigJohn
    Full Member

    Do remember that a house with a sitting tenant has a far lower value than one with no tenant.

    Stay put buster.

    grantway
    Free Member

    Had the same fella after my Nan died at 101
    Not going into detail, but it just amazes me how shit
    people can be and being your family.

    Sorry for your loss Fella !!

    Woody
    Free Member

    I am not going to buy the house.I will just be given it as my share of the will

    Oh, I see. You are still, in effect, buying it as it wasn’t specifically bequeathed to you and is classed as part of the estate. I would be very suspicious that the house valuation ‘just happens’ to be the worth 50% of the estate value on a 50/50 split, especially as you have said it is run-down.

    Have you taken any independent legal advice at all?

    monkeycmonkeydo
    Free Member

    GWoody I,m on benefits.Lawyers ain,t cheap mate.Cheers all for your advice. PS anybody else having trouble with this website tonight.

    BigJohn
    Full Member

    Lawyers ain,t cheap mate

    Better than losing your inheritance though.

    Reminds me of the big wing in the local prison reserved for the prisoners who defended themselves without a solicitor.

    warton
    Free Member

    Obviosly I don’t know the ins and outs of your situation, and Laywers aren’t cheap, but 4/500 quid spent now really could pay for itself many times over. and most lawyers would wait for payment till after the will has been settled

    Sidney
    Free Member

    Sorry to hear about your father and even more sorry about your relatives.

    I can’t give you advice on wills etc but have had a couple of surveys on properties recently. We were offered three types; valuation, homebuyer survey and building report.
    Valuation – basically confirms it’s a house and not falling down and estimates a value.
    Homebuyer report – estimates a value but also assesses the property for any defects and rates their severity. A lot of the time will advise additional expert surveys. we paid 700.
    Building report I believe is more thorough version of above but also identifies the repairs and associated costs.

    RICS Guide Here

    Cougar
    Full Member

    Talk to a solicitor.

    You’re labouring under the idea that “I can’t afford it” without any idea of cost at all, and your family are taking the pish and laughing all the way to the bank. An initial consultation with a solicitor is often free, and if you’re due an inheritance then a portion of this will cover the fees.

    Talk to a solicitor.

    See also, the first point in this post.

    And, talk to a solicitor.

    cynic-al
    Free Member

    monkeycmonkeydo – Member
    GWoody I,m on benefits.Lawyers ain,t cheap mate.Cheers all for your advice. PS anybody else having trouble with this website tonight.

    Legal Aid?

    I’d def speak to some Est Agents re. valuations or look at what comparable stuff is selling for. You have seen their valuation yes?

    You need to argue this stuff hard (with evidence) unfortunately, if you’re not comfortable doing so yourself a lawyer will make sure you are taken seriously.

    You may also wish to think of the effect of any inheritance on your benefits…CAB?

    NJA
    Full Member

    Talk to a Solicitor who deals with Contentious Probate you will need a larger firm with a specialist family or private client division.

    Only accept a valuation in writing from a fully qualified chartered surveyor and then get a second opinion from another fully qualified chartered surveyor.

    If inheritance tax has been paid and the property value has gone down HMRC will even rebate some of the tax paid. After all the property market in most of the UK is shot to hell and prices are falling all over so it would be unsurprising if any property with a sitting tenant has seen a significant fall in its value over the last four or five months.

    monkeycmonkeydo
    Free Member

    Took your advice people and hired a solicitor. Can’t say I feel good about it.Cheers for all your contibutions.Apeman

    rickmeister
    Full Member

    Monkey, sorry to hear about your family loss.. my dad died just recently and we have been through all the legal stuff too.

    This sound like its running too fast… did you check how the solicitors charge their probate fee? Some charge per hour, others charge a percentage of the estate… could that be the reason for the inflated property valuation… ?

    Good luck getting it sorted. There is loads of good advice here.

    R

    Raindog
    Free Member

    You should feel good about it – the end result will be fair because of your actions.

Viewing 28 posts - 41 through 68 (of 68 total)

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