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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 32086
Experience:  Over 5 years in practice
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Probate and buying my fathers house who died 2 years ago, My

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probate and buying my fathers house who died 2 years ago
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Customer: My father died and left everything (two properties) to his 3 children. I offered to buy my eldest brother out of which he refused and changed the locks on the property and instructed them to auction the house without my agreement. When I went to the house my key didn't work.I have now been told that the house will be auctioned and I will have to buy it at the auctioneers guide price or make an offer bearing in mind the potential investment value which is a word of mouth approximation by the auctioneer who is the solicitors friend (?). At present, I would like to know where I stand with having to make an inflated offer on the potential value of this property rather than the guide price. The solicitor keeps telling me that it is in the best interests of all parties, to maximise gains, but how can I make an offer against a figure that does not exist? Also My brother has wasted scores of thousands and best interests were not being considered at this point so unclear why I am being asked to pay over the asking price of which I own 1/3 of.Additionally, I needed to use my part of the inheritance to get the mortgage as a deposit, but technically I will not have one because it will be deducted (The solicitor has not put much thought into how this will actually happen). This will make it harder for me to get a mortgage at a reasonable rate now. It also seems that the price is being pushed up to dissuade me from buying it. The auctioneer will charge a fee but the solicitor seems happy to run up additional costs - Im unsure how this is I'm anyones best interests. Currently I am trying to contact the solicitor to get the keys back as the solicitor does not even have them.Any advice in this matter would be greatly appreciated. Where do I stand legally with this matter?Thanks
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Submitted: 1 year ago.
Category: Law
Expert:  F E Smith replied 1 year ago.

Bearing in mind that the property is being sold at auction, why are you being asked to pay over the odds when you can simply buy the property at auction?

Will your brothers not accept you buying it at the auctioneers guide price?