Selling a shared ownership of a house

[Lord Rossmore]

My brother and I are equal share owners of an inherited house. My brother wants to buy me out and I am happy enough to sell for a fair price. As its me who is selling, is it up to me to get a valuation and start the conveyancing proceedings ?

 

[Pinoy adventure]

Was there a valuation done for probate ?
If so could you use that.

 

[Lord Rossmore]

Was there a valuation done for probate ?
If so could you use that.

Yes but that was over a year ago and I would have thought a value was needed reasonably close to the sale date ?

 

[Brendan Burgess]

If you appoint the valuer, and tell him why you want it valued, he will tend to value it towards the end of the range.

So you and your brother need to agree the valuation.

If you can't agree a valuation, you need to appoint a valuer. The best thing would be to jointly agree the valuer.



The seller usually draws up the contract. Your brother will have to appoint a separate solicitor to handle the purchase.

I doubt that the one solicitor would do it even you both agree on everything.

Brendan

 

[Pinoy adventure]

Yes but that was over a year ago and I would have thought a value was needed reasonably close to the sale date ?

Not necessarily but with the cost of a valuation being about €150,you could always get one.