Yes, the buyers have refused to increase the offer. Initially they were supposed to get a mortgage after selling their existing house, but their relatives decided to chip in and add the difference hence the cash offer. The buyers actually have to pay £780,000 gross because of the selling chain, but we would be getting £750k out of that. The buyers have explicitly said that they have no more money, because the initial offer was based on the aforementioned mortgage. The circumstances have now changed. And we would be more than happy to go with this.
How would we go about transferring the execution to the solicitors?
Yes we are going through the whole rebate process and the solicitors have control of the assets until everything is sold.
But the Will states that three of us are executors.
The solicitors in question have maintained that there is nothing we can do here and that all three are required to sign the papers, but to me it sounds like a bit of conflict of interest as they are appointed to make sure the Will is executed properly. They have maintained that in spite of abusive emotional behavior exibited by the eldest sibling, she is acting in the best interest of maximising the assets, but clearly this is not the case.
Does "overreaching" extend to Wills, rather than only trusts? And would we need to get the court involved?
The solicitors did it on our behalf
Yes, we have the initial valuation of the house at £800k. But she's stuck on £770k. Either way, it seems there's nothing we can do.
If she won't sign the papers, we have to raise the price to £770k and go with it.
I've just spoken to the estate agent about this whole issue and after some back and forth, the sister still wouldn't budge and I've been informed that we've lost the buyer because of this. I hope she's happy now.
We remain are at the mercy of the wobbling market bubble.
Thank you for all your help, but this was a no win situation as it seems.