Solicitor as executor

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Peonyrose

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Can anyone advise me as to why a solicitor who is the executor of a will would choose to auction off a property rather than sell on the open market? This is a rural property so not huge demand in the area. I'm almost sure the deceased didn't have this in mind when they instructed the solicitor to sell it. However although I am one of the beneficiaries the solicitor is non responsive to any queries since the death 6 months ago. TIA
 
Some might say he had a friend buying it if it was a private sale. This way, ie, a public auction really is the "open market" in every sense of the word. If the deceased really didn't want a public auction they could have said so. I have no idea why you would have an objection, unless you thought a friend or relative might get it cheap. This way everyone gets a clear playing field and you might be surprised at the demand if it's in ok condition.
 
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But selling at auction is selling on the open market.

Solicitor will only deal with executor; they have no obligation to you as a beneficiary.
 
Ok I understand better now thanks. I have no objection I just wasn't aware that this was common practice and couldn't get that your responses from the solicitor.
 
Thirsty said:
Solicitor will only deal with executor; they have no obligation to you as a beneficiary.
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The solicitor is the executor and as such have very strict obligations to all the beneficiaries - clearing all the debts of the estate, gathering and protecting all of the assets, identifying and notifying all of the beneficiaries of their bequests under the terms of the will and ensuring that all taxes and professional fees are paid in advance of distribution.
 
Peonyrose said:
Can anyone advise me as to why a solicitor who is the executor of a will would choose to auction off a property rather than sell on the open market? This is a rural property so not huge demand in the area. I'm almost sure the deceased didn't have this in mind when they instructed the solicitor to sell it. However although I am one of the beneficiaries the solicitor is non responsive to any queries since the death 6 months ago. TIA
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If your concern is to maximise the sale price, and it's a rural property, you may not be aware there is now a very active community of people interested in these properties online even in remote locations - be sure to post the notice of the auction on places like the facebook group "Cottageology - Irish Cottage Renovation & Appreciation" and "Irish Cottage and Farm Building Restoration". The solicitor will likely handle the usual myhome, daft etc listings with whoever is handling the auction.
 
@mathepac - missed the fact that Soltr is exec.

In any event, I would say Soltr is perfectly correct to sell at auction. Its faster & transparent.

As exec Soltr doesn't have to enter into discussions with beneficiaries on how to execute the will.

You can expect to get a copy of the final settlement figures, expenses etc., when that time comes.
 
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