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Michael Holly
Michael Holly, Solicitor
Category: Law
Satisfied Customers: 6959
Experience:  I have 20 years of experience as a solicitor in litigation and other areas
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I if I am a 50% beneficiary of a late relatives house and the

Customer Question

I if I am a 50% beneficiary of a late relatives house and the executor who is also a 50% beneficiary as decided to sell the property to a private buyer and possibly has under valued the asking price for the property. Am I entitled to know how the property valuation was agreed
Submitted: 1 year ago.
Category: Law
Expert:  Michael Holly replied 1 year ago.
Yes you are entitled to know. The executor has a duty to wind up the estate efficiently and obtain a reasonable price.Here the executor as beneficiary has a vested interest in getting a good price as they are receiving 50% under the Will too.As such I would be surprised if the property is being marketed at under value.You need to bear in mind that property prices vary and are , to a degree, subjective . A court allows a degree of variation of 10% in any dispute to allow for this.In addition asking prices do not always reflect the actual price achieved.You can check what similar houses in that road have sold for by using the Rightmove site for sale prices. You can find this through the search engine on your computer. You need to allow for prices generally rising but the guide is a very good indication of what has been paid for houses in that road.I hope this helps if there are any further points please respond and I will be happy to replyBest wishesMichael