Probate sale of property

[harbinger]

Do you sell to the quickest or hold out for more.
If a straightforward will, do instructions come from the beneficiaries (offspring)?

[Spickle]

Instructions come from Executors (who may, or may not be, the beneficiaries).

Hold out for more. Probate sales are attractive to developers and they will offer at a ridiculously low price, be wary if you get offers within days of instructing an Estate Agent. I think EAs sometimes "know" of developers and might give them the heads up.

[harbinger]

Thank you for the reply Spickle. I think I may end up on ' both sides of the coin' . DM&F want a probate sale property. Their house would have developers' salivating!
The move will probably be too much for them.

[Poosnu]

Spickle is right - the executors give the instructions. (But depending on the circumstances they may wish to seek informal approval from the residuary beneficiaries).

The executors are under a duty to maximise the value obtained for the beneficiaries so they shouldn't accept a ridiculously low offer.

[SuedeEffectPochette]

Executors often publish a "we have received an offer of x for this property. Anyone wishing to offer more do so within x days" so that they can show that they achieved the best price (which they have a duty to do, as Poosnu says). If the executors are the beneficiaries too, though, they can do what they like as they are not likely to sue themselves for not taking the best price!