My two sisters and I have to sell our interest in three apartments in another country. We and eight other relatives have inherited the apartments, and we three sisters together have a 1/4 ownership interest. There is an attorney who has been hired to liquidate and distribute the part of the estate that does not include real property, and the eight other heirs have also hired that attorney to sell their 3/4 interest in the apartments at any price of the attorney's choosing. My sisters and I, however, have declined to hire the attorney to sell our , preferring instead to make our own decision about an appropriate selling price for the apartments. The decision to sell must be unanimous, so even though we hold only a 1/4 interest, we have veto power over a sale, and we want it this way because we think that the attorney will be too willing to sell the apartments cheap, particularly if the attorney has "friends" who want to buy it. Does anyone see any pitfalls in our making this decision? If so, please let me know!
I agree with your assessment of the situation. They will definitely take advantage of the situation to go for a quick sale and most likely the deal would be for undermarket. Do your research on the property first to see if it is worth the expense of doing it. The numbers of the deal should be the determining factor and not emotion. Good luck.
Sorry but what does your question have to do with laminate vs. vinyl plank (the title of the post)?
Go with the flow and let the attorney try to sell the property but don't give him the authority, have everyone agree on a price, then buy it for that. It doesn't matter how much the price he will sell it for, that will be your buying price, for sure it will be under market. However, there are no comp values in other countries, a sale could be just paper and don't even transfer title for years. Nevertheless, offer the attorney the same fee he will receive as if he has sold it to others.
I'd go with real hardwood; laminate and vinyl always looks fake and cheap. :)