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First of all, this has to do with inherited property. He isn't asking for any money from you, only to buy you out of it. Therefore, it isn't the typical situation when a family member needs money.
Why can't you hire a lawyer to draw up a payment schedule for the property. You can "sell" to him based on that and let him obtain a new deed for the property in his name but you and your other brother can put your own liens on the property that will only be released when the payments are met.
That way you will be protected. If he fails to pay, you still retain control of it and he can't sell it without you releasing the liens on the property. You should still get your own independent appraisal done but don't be surprised when it comes back as less than you thought. Property has lost lots of value recently.
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