Minnesota. Not sure if this should go in the Probate forum or here. I am the executor of my dad's estate, 6 kids total. My dad left his estate with 13.4% to five of us and 33% to my youngest brother. Younger brother is applying for a mortgage to buy the rest of us out of the home. Home sale price to my brother is $145k. The mortgage appraisal came back at $300,000 (based solely on comps, my real estate agent said she would list at $220,000 but I should expect to sell around $200k).
The mortgage broker is saying that I need to get a court order to sell the home to my brother under the appraised price. All siblings agree on the $145k. Estate lawyer says we can sell at any price if we all agree. I am paying all lawyer fees out of my pocket (no cash in the estate) so I don't want to ask my lawyer to prepare anything that is not needed. Do I need something from the court to sell under the appraised value?
The mortgage broker is saying that I need to get a court order to sell the home to my brother under the appraised price. All siblings agree on the $145k. Estate lawyer says we can sell at any price if we all agree. I am paying all lawyer fees out of my pocket (no cash in the estate) so I don't want to ask my lawyer to prepare anything that is not needed. Do I need something from the court to sell under the appraised value?