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I think you can argue that the contract can no longer be performed as one of the parties to the contract has died. The has to be two parties to perform the contract and there isn't any more.
Basic law of contract.
You have to fill in the whole form and the inheritance tax payable is self assessed. If there is no will you will inherit the first £250000 along with half of the remainder and there will be no tax. The children will share the remaining half and inheritance tax will be due on that element less the nil rate band and additional threshold. Where it asks for the value of the residence you put that in. The calculation will allow for taxation on the intestate estate later on in the form. As earlier advised the solicitor handling the sale should be able to assist you with this.