Sell Inherited House: Guide to Selling an inherited house
Published by Property Saviour
The UK's No.1 Fast House Sale Company
July 27, 2015 - Read time: 3 minutes
If you are thinking how can I sell inherited house quickly, we can help!
Guide on how to sell inherited house
We buy probate properties nationwide. We understand that selling an inherited property can be a very stressful experience. When probate estate bills are mounting, the last thing you need is expensive estate agent fees. Of course, you’d rather keep legal fees low so that you can get more of the inheritance money rather than your solicitors! Key benefits of dealing with Property Saviour:
- That’s why you should deal with us. We buy properties in days. There are no fees to pay.
- We make you a fair offer and give a free valuation.
- We give you extra £500 towards your legal fees plus offer a free house clearance service.
- Property Saviour are genuine cash buyers.
- We will exchange contracts in days and agree a completion date to suit your needs.
For a guaranteed fast house sale, just click on this link: Get your free offer now.
How to sell inherited house?
For most Executors and beneficiaries inheriting a house after death of a loved one can be a very stressful experience because most people do not have prior experience of inheriting a house from your parents. Often an inherited house with no mortgage can be marginally easier to deal with, as you have no banks chasing for mortgage payments or requesting monthly updates on progress of selling deceased estate property.
Executor has a legal duty to sell inherited property at a fair market price, pay any inheritance tax or capital gains tax that are due to HMRC, pay all bills relating to the deceased estate and balance of inheritance proceeds to be split up between the beneficiary as stipulated by the Will of the deceased.
There are more practical aspects such as obtaining a grant of probate, determining a fair market value of inherited property, estimating holding period of inherited property as the longer the property remains on the market, the more the deceased estate bills are likely to be hence a reduction in inheritance amount.
There are a number of steps involved when it comes to obtaining a grant of probate when you are considering selling a probate property. With mounting pressure from debtors such as utility firms, solicitors, council tax office and the fact that property may not be insured as an empty property, it makes sense to sell the probate property to a specialist such as Property Saviour. We can guide you through the process of selling your probate property whether that’s dealing with probate office, and helping you obtain a grant of probate, offering to pay toward your legal fees, immediately exchanging contracts once we have seen the property so that you can pay off debts relating to probate estate whilst you wait for final funds to come through at completion stage, we can also offer you a free house clearance service. As soon as we have exchanged contracts, we can insure the property fully so that you know that it is taken care off, and we step you through the process – making the process of selling the property as simple as possible. We can complete at a date that suits you – this means that all beneficiaries can be assured of a completion date. Did we mention that you can actually use your family solicitor, if it helps or we we can suggest a panel of solicitors that can act for you too.
There are no endless viewings, just one viewing – and that’s totally discrete. No estate agent fees to pay and it takes days rather than months or years when it comes to selling your probate property. You can distribute the sale proceeds within a couple of weeks – just tells us when would you like the purchase to complete when we call you.
Because we are genuine cash house buyers, we are in a position to provide you proof of funds, and can exchange contracts within 10 days or quicker. Our average completion date for each probate sale is 19 days, and this includes weekends too. This is why many sellers prefer to go with an honest and approachable specialist probate property buyer such as Property Saviour. We are considered to be a subject matter expert when it comes to buying a probate property.
Can an Executor of a Will sell property without all beneficiaries approving?
The Executor has the power to sell a probate house without approval of all beneficiaries as executor is appointed as a legal guardian of the deceased’ estate and to deal with all matters relating to a deceased’ financial affairs. It may well be possible to challenge the executor’s decision but you will need legal advice on this matter.
The question is how long should a probate property should be unsold for or in other words how long does an executor have to sell a house? The answer is that if you have tried to sell an inherited house on open market and haven’t had much luck then you need a specialist probate property buyer like Property Saviour.
You can sell an inherited house even if a grant of probate is pending. You can learn more about how to sell a probate house with grant of probate. Property Saviour are specialist in buying deceased estate property.
Can I sell my inherited property in poor condition?
Yes you can. We are buying probate properties across England, Scotland and Wales in any condition. Because we are specialist probate property buyers, we are in a position to quickly exchange contracts. We can make you an offer on the same day so if you re thinking of selling your inherited property then complete this 60 second form, and we will call you back straight away to make you an offer. Get your free offer now.
Help! Can I sell a property that I have inherited?
Yes you can. We will buy your inherited house quickly and for cash. You will need a grant of probate.
The Government has made it incredibly easy for an Executor to apply for a grant of probate. The probate office has a very helpful approach and many people apply for a Grant of Probate themselves rather than appointing solicitors. However, you are welcome to use your solicitor if so you wish.
Can I sell an inherited property with disputes?
Yes you can sell an inherited house with disputes to us. Whether these disputes are ongoing or historical with neighbours or amongst the beneficiaries, we will buy it.
Selling inherited house to a sibling can be tricky. In fact, selling inherited house to family can put your relationships at strain. You can’t sell your share of an inherited property on open market. One possibility is to refinance the property assumng it has no mortgage. But how do you refinance an inherited property to buy heirs? You’ll need 25-30% deposit of purchase price, an excellent credit score, a stable income of a minimum £30,000 per year and proof tha your mortgage payments will exceed your rental income on property by a ratio determined by the lender. The whole process from applying for a mortgage to completion can take several months.
Disputes can arise because beneficiaries may have different priorities and often a straight forward sale of inherited house quickly can mean that they can all move on with their plans. We are in a position to exchange contracts quickly. Just tell us what the disputes are. It won’t put us off. Get your free offer now.
Property Saviour are specialists in buying an inherited houses. Our specialist knowledge of buying probate houses fast means a much quicker sale than normal. Simply contact us and we will do our best to buy your inherited house.
Are you looking to sell inherited house to make a fresh start?
- We buy will inherited houses and bungalows fast
- Commercial probate properties are also bought fast
- No endless viewings after viewings
- No house clearance to pay for
- We will fully insure your empty probate property once we have exchanged contracts
- No need to refurbish the property or spend thousands of pounds
- No estate agent fees to pay either
- We will exchange contracts quickly
- We offer a free valuation
- Our average completion timescale is 19 days – this includes weekends too!
- We pay £500 towards your legals
- We offer a fair cash price
- We can also complete at a date that suits you – quick completion or a completion that fits in with your life plans
- You are always in control
- Proof of funds available upon request
Sound fair enough? Call us on 0113 320 6700 or click on our 60 second enquiry form.
Read our useful blog posts
- Guide to selling your probate property. Your questions most common answered.
- How to apply for a grant of probate
- Dealing with council tax and utilities
- How much inheritance tax will I have to pay?