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By Order Of The Executors Auction Property

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hi all theres a property going to local auction shortly, the details say that its by order of the executors, could some one explain what this means exactly

thanks

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hi all theres a property going to local auction shortly, the details say that its by order of the executors, could some one explain what this means exactly

thanks

it means the people responsible for executing the repossession on behalf of the bank. the bank has started their repossession process and they hire agents to execute that process although sometimes they do it inhouse. im just guessing.

the term exectutors is as much of a coincidence as the term toilet is a term for a property to rent to the poor.

there is also a term executor, ie, the executor of a will. i guess thats the same although conutations could have different interpretations.

Edited by 50%deposit

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hi all theres a property going to local auction shortly, the details say that its by order of the executors, could some one explain what this means exactly

thanks

My read would have been slightly different to the previous post.

I would have thought that it is by the order of the executors of the estate of the previous owner and that it is likely to have got to this stage because the previous owner died intestate (without a will or clearly known descendants) .....

The previous post could also be correct though as bankruptcies also give rise to a bankruptcy estate which could also have an executor.

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hi all theres a property going to local auction shortly, the details say that its by order of the executors, could some one explain what this means exactly

thanks

I think you will find that it means that the person who owned the house has died, and the excecutors are dealing with the estate.

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hi all theres a property going to local auction shortly, the details say that its by order of the executors, could some one explain what this means exactly

thanks

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thanks people reason i ask is that i put an offer forward to the auction house, the reply that i got from them was,

the offer has now ben forwarded to our clients for their consideration although please be aware that from the outset, the executors selling the said property have expressed their commitment to selling the property in the auction room, i would therfore recommend that you prepare yourself to attend the auction in order to bid in the competative enviroment, should my clients instructions change and they indeed consider the offer i will of course contact you immediately

what do you make of this.

thanks

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Those liable to benefit from the Estate under consideration have obviously made it clear to the Executor(s) they want cash fast! Thus no mucking about with EA's etc.

Get down to that auction! - this could be one with a very low reserve - or even no reserve!

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Predictable. The Auction House don't get their sale commission if it gets withdrawn, although there may be a brochure / admin fee. You need to contact the executors direct if you're serious.

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thanks people reason i ask is that i put an offer forward to the auction house, the reply that i got from them was,

the offer has now ben forwarded to our clients for their consideration although please be aware that from the outset, the executors selling the said property have expressed their commitment to selling the property in the auction room, i would therfore recommend that you prepare yourself to attend the auction in order to bid in the competative enviroment, should my clients instructions change and they indeed consider the offer i will of course contact you immediately

what do you make of this.

thanks

How on earth do you manage to login to the internet or this website with such a complete inability to comprehend (that means understand) the most simple of things in plain english?

If you were on that Airbus which crash landed on the Hudson and were seated next to the exit when the captain ordered all passngers seated next to exits to "open them then evacuate the plane in an orderly fashion", as you gazed blankly out of the window at the rising waters, would you turn to the passenger next to you and ask "what do you make of this"?

For crissakes use your god given brain and figure simple stuff out for yourself.

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hi all theres a property going to local auction shortly, the details say that its by order of the executors, could some one explain what this means exactly

thanks

It is a property owned by someone who has died.

A repossessed property would be by order of the mortgagee in possession.

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thanks people reason i ask is that i put an offer forward to the auction house, the reply that i got from them was,

the offer has now ben forwarded to our clients for their consideration although please be aware that from the outset, the executors selling the said property have expressed their commitment to selling the property in the auction room, i would therfore recommend that you prepare yourself to attend the auction in order to bid in the competative enviroment, should my clients instructions change and they indeed consider the offer i will of course contact you immediately

what do you make of this.

thanks

It means they want to sell the property in an auction, rather than accepting independent offers. That's normal.

If somebody has died then I'd be surprised if it's the executors who are selling the property. The executors wouldn't normally own the property (or whatever was left in the will) so how could they sell it? AFAIK the executors just make sure whatever was left goes to the appropriate people.

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I too think that this is executors of the estate of a deceased person. They may prefer to sell at auction as they know that the buyer who wins will have to complete or will have to pay a hefty forfeit if they don't - hence helping get affairs settled as soon as possible. No risk of reduced offers or gazundering after survey, exchange etc. etc. Also, if there are disputes in the family going on over the will, selling at auction would probably be the most impartial judgement of value.

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It means they want to sell the property in an auction, rather than accepting independent offers. That's normal.

If somebody has died then I'd be surprised if it's the executors who are selling the property. The executors wouldn't normally own the property (or whatever was left in the will) so how could they sell it? AFAIK the executors just make sure whatever was left goes to the appropriate people.

That's not correct

"An executor can also be known as a personal representative; they legally represent the deceased's estate and, as such, assume various rights and responsibilities. In most cases the executor can be sued on behalf of the estate, making it a less than enticing post if the deceased's affairs are not entirely in order. It should also be noted that the executor automatically acquires the title to any property which falls within the estate. In this way, they act as the owner of any property to which a life tenant has a claim. The executor may not, of course, use these titles for their own benefit, unless this is explicitly provided for in the will."

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That's not correct

"An executor can also be known as a personal representative; they legally represent the deceased's estate and, as such, assume various rights and responsibilities. In most cases the executor can be sued on behalf of the estate, making it a less than enticing post if the deceased's affairs are not entirely in order. It should also be noted that the executor automatically acquires the title to any property which falls within the estate. In this way, they act as the owner of any property to which a life tenant has a claim. The executor may not, of course, use these titles for their own benefit, unless this is explicitly provided for in the will."

Valuable quote. Thanks

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If the executors are not the sole beneficiaries of the estate they are able to demonstrate to the beneficiaries that they have achieved the best price reasonably obtainable on the open market by selling at auction, which will be a much easier option than obtaining the consent of all the beneficiaries to the price you have offered, which might be time consuming and expensive - the moral is - get to that auction!

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this government might keep executors busy some day, those wearing a black hood.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
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      • Even
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      • up 5%



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