Sell an inherited property at a loss
Published by Property Saviour
The UK's No.1 Fast House Sale Company
April 8, 2016 - Read time: 3 minutes
Selling an inherited property at a loss is possibly the last thing you should be considering. Often an inherited property will have little mortgage so there is equity within the property. Therefore, the only reason you would sell an inherited property at loss is if you have unpaid care fees payable by the deceased person’s estate.
According to UK Government’s Inheritance Tax website, as of April 2016, the inheritance tax threshold is £325,000 per person. This may seem fairly generous in the Northern part of England and parts of Wales but it certainly means there will be an inherited tax bill to pay in South East, South West and London.
If you are looking at possibility of selling an inherited property at a loss, do not despair. Property Saviour have been buying properties since 2003, and we specialise in helping sellers who have inherited a property. There is a strong possibility that you will get best possible outcome out of a difficult situation with us.
One way to avoid the situation of losing on your inheritance is to sell the property at best possible price.
We will value your inherited property based on a fair market value on what the property is worth in today’s market. In fact you may be pleasantly surprise to learn that you do not need to sell an inherited property at a loss.
What happens if you sell inherited property at less than its appraised value?
Once you have obtained a grant of probate, you are legally entitled to sell the inherited property at its fair market value. This fair market value is derived from looking at property with a realistic sale price given the condition of the property.
Property Saviour can help you sell your house fast. We are not estate agents. We are real cash house buyers operating nationwide covering all parts of England and Wales. We have cash funds ready and available to buy your property. We will indemnify any searches therefore, we are in a position to exchange contracts within 10 days from acceptance of our offer, and completion date within 28 days from start to finish. We will provide you a hassle free experience when you are thinking of selling. So before you decide to sell an inherited property at a loss, call us on 0113 320 6700.