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Selling parent's property

janfraser

New member
Apr 12, 2018
1
Hi, I have all the relevant paperwork in force and am about to sell my parent's property. My father is deceased and Mum is in a care home. The property was originally a council flat and the council are willing to buy it back for £47,500. I think this is a good offer taking into account the condition of the property. I have obtained numerous estate agent valuations all in the region of £45-£55,000. However I received 1 for £75,000!!. Would it be acceptable to go with the Council offer or would the Court of protection see that as not doing the best for my mother's finance. Help please.
 

Weasell

Registered User
Oct 21, 2019
760
I would tear up the £75.000 valuation! But I am a naughty weasel so I am sure there is someone else with better morals than me.

There is always an agent that says they can get the most money. They can’t , but by then they have a sold agent contract!

when selling an ex council flat there can be ag with the lease.

What ever is offered they are very likely to say ‘oh look this and that is wrong so we need to deduct five grand’. When they get the survey done.

selling to the council you save all that aggro and also do not pay agents fees which actually makes the offer worth more.

The council offer would be quick saving all the issues of insuring an unoccupied building, let alone the risk of a break in or squatters.

When it comes to the assessment ( funding care home fees) do you think they will have the nerve to suggest that the council have ripped you off?

Having said that, reading peoples dealings with the court of protection they sound quite sensible and reasonable, so if it makes you more relaxed then contact them but make sure you communicate what you feel the odds are of achieving clearing any more money than the council are offering.
 

Sarasa

Registered User
Apr 13, 2018
2,046
I agree with @Weasell. That offer is such an outlier that you’d never actually achieve that price. Going via the council sounds the most hassle free way and should save you agents fees etc.
 

Louise7

Registered User
Mar 25, 2016
2,609
Welcome to the forum @janfraser If the numerous valuations are between £45 - 55k then the council's offer seems reasonable. The fact that there is one valuation which is much higher than the others doesn't mean that you would actually get that price if it was put on the market. You do have to act in your mum's best interest financially but it could be argued that it would be better financially to sell the house now rather than leave it on the market for a potentially lengthy period, whilst spending your mum's money on paying insurance, utilities, maintenance/upkeep etc, in the hope that someone might pay somewhere near the high valuation price. Is anyone likely to object to what you are doing and inform the OPG? We've recently sold mum's house as LPA's but didn't have to notify the OPG beforehand and there's no reason why they would query what you are doing unless someone contacted them to suggest that you were not acting in your mum's best interests. We only obtained 3 valuations prior to putting it on the market - obtaining 'numerous' valuations is really not necessary, and how would the OPG know what valuations you received in any event?