Inheritance can be a blessing or a traumatic experience. It is a double edged sword with both benefits and risks. It is a blessing from a financial point of view as you will benefit from the monetary value of the property. Often a probate property will have little or no mortgage left. It is also likely that the property will require some substantial renovation or modernisation. This can make selling an inherited property tricky.
After the death of a loved one, undertaking such a project can be a very traumatic experience. As an Executor to a probate estate, people tend to have several priorities. This can include selling an inherited property quickly, settling the probate bills and paying each of beneficiaries.
Once grant of probate has been applied, you can start the process of selling your property. You can apply for a grant of probate or you can instruct a solicitor to do it for you. Provided there are no inheritance tax issues, a grant of probate can be issued quickly, sometimes in as little as 4 weeks. Often an estate agent will give you a highly inflated valuation to win your business. In this scenario, it is very likely that a buyer will not be found for several months if you place the property on the open market.
Are you looking to sell an inherited property quickly to settle the probate?
It is likely that your probate property requires a refurbishment. This may well put off any first time buyers or investors.
One option is to sell your property fast to a cash buyer, like us. We can buy your inherited property quickly. We don’t require a mortgage to buy it! Find out how to sell a probate house now.
When you have applied for a grant of probate, we can begin the process to buy your property fast. Get a fast cash offer for your property today.
Can I sell house before probate?
Yes. You can sell your house before probate. We will even exchange contracts to give you peace of mind. We are genuine cash buyers who specialise in buying probate property quickly. One of our clients, Doug Winchester from Kingston Upon Thames inherited a property. Doug wanted to sell his inherited property quickly. Find out how Doug’s experience led him to recommending us:
Selling your house through probate is the standard process. There is a wealth warning. Your solicitors may not be in a rush to settle the probate. This will affect your ability to sell your inherited property quickly. This is because probate solicitors are paid for their time and materials. If they are acting for your loved one, you may have no idea exactly how much their fee is until the probate bill is presented to you. This is because a probate legal bill is usually based on time and materials and is not a fixed cost bill!
Estate agents will put your property on the market your inherited property at an unreasonable asking price. This strategy may well put off any potential buyers because the property actually requires refurbishment. This could add further delays to your settlement of the estate and all the while the bills for solicitors, council tax, and general utilities will be adding up. Learn how we could potentially save you thousands of pounds by making an enquiry today.
One way to minimise the solicitors probate bill is to sell inherited property quickly to a genuine cash buying firm like us. We are specialists in buying probate property fast. Plus we will give you £500 towards your legal costs. This tried and tested model has been used by numerous Executors to guarantee a quick house sale. Get your free online offer now.
Selling property after probate – Your options
Thinking of selling your property after probate has been granted? You can of course put the house up on the market with an estate agent. Read our guide to Costly Mistakes Made by Estate Agents to help choose the best estate agent for you.
It may take you longer to sell the property with an estate agent, especially if there are personal belongings in the property, and it requires renovation or modernisation. We often see probate properties come remain on market for around 12-18 months.
In the interim, you are responsible for costs such as utility bills, council tax and insurance. Utility firms will charge you a daily standard charge per utility. The council will charge between 100-150% and in some cases up to 200% of the normal council tax for an empty property. This can all add up to a huge amount of money.
Or you can choose to sell your property privately to us. We buy probate properties for cash. Our probate property buying service is fast and hassle-free! Probate House Clearance for free?
We can offer you a probate house clearance for free!
If we buy your property we will offer you free house clearance. This will save you around £500 to £1,250.
Need Free Probate Empty Property Insurance?
Finally, your current insurance provider will not cover your property once it has been vacant for more than 30 days. A specific unoccupied property insurance cover is required which can cost anywhere from a few hundred to a few thousand pounds per year, depending on the valuation and location of your property.
There is no guarantee that you will be able to sell your property via an estate agent. A normal property buyer may ask you to carry out remedial works, following on from a survey. Or worse still, a buyer may not be able to obtain a mortgage on your inherited property because it is deemed uninhabitable due to the extensive renovation required.
We would be delighted to buy your property even if it has a missing kitchen, no central heating system, structural issues or perhaps even a couple of holes in the roof! As long as your property is located in England or Wales, we are interested in buying it. We buy all types of properties for cash. Get in touch with us today by completing our Get Your Free Cash Offer form or call us on 0113 320 6700 today.