Advice for selling a property in Nashville, TN

[Scott Egbert]

My father-in-law passed away in March, and my wife and her two brothers were given a property via a Quit Claim Deed. He also had willed it to just her and one of the sons after the quit claim, but it is my understanding that a quit claim supersedes the Will.
Someone had an appraisal done on it this year, and it shows $368K; however, the house is in very poor condition and would take a lot to get it to that sale price (Although it is on a nice corner lot). While we wouldn't mind giving it a go, her two brothers wouldn't be able to contribute.
There is a lean of about $100K on the home.
We have had a few offers of $200K and my wife just wants out of the situation.

What would be our best path forward?

[Rick Albert]

Quote from @Scott Egbert:

Appraisals are public information in Tennessee. I don't know about other states.
By "open market", are you saying we should list it with a realtor?

 Yes. Because there are multiple beneficiaries, someone is the Executor of the Trust. That person has an ethical responsibility to get the most money for the beneficiaries. The only way you will know if you get the best price is if you list with an experience agent and get maximum exposure. 

Keep in mind with appraisals it is just a professional opinion. Keyword is "opinion." I've had appraisals on the property be hundreds of thousands to even millions of dollars apart (I'm in Los Angeles). I've had listings sell for both higher and lower than appraised values. I wouldn't focus on that number at all.