• Inherited Property

    By Guest on 02nd Mar 2017

    I have inherited my mothers bungalow with my 3 brothers. I want to buy out their share so I can live there. Estate agents are suggesting puttin on market for 150-160k. I have had a builders quote for modernisation on 20k. I do not know what would be a reasonable offer to make to my brothers.

  • 1 Answers

    By Guest on 02/03/2017

    This isn't really a legal matter. What you all do need to remember however is that whatever the agents put the property on the market for you can expect a bit less, plus you'll have to deduct the agents' fees. If the property needs modernisation on the scale you mention you are probably looking at investment buyers who will offer a lower price than someone wanting to live in the property. Also, the sooner it's sold the sooner your three brothers can invest the cash they get and make it work for them. So why not suggest £140,000 (less your quarter share of £35,000) and see where you go from there?

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