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How To Sell Probate Property?

Property Saviour » Inherited Property » How To Sell Probate Property?

Whether you are an Executor or a beneficiary, you need a Grant of Probate to sell a property.  We are very sorry to learn of your loss. 

Our guide makes the process of selling the probate property easier by following these three principles:

  1. Informing you of your duties as an Executor
  2. Outlining practical steps to enable you to sell a house in probate
  3. Educating you on the things you may not know already
 
You can read the entire article or watch this video:

Table of Contents

How To Sell Probate Property?

Whether you are an Executor or a beneficiary, you need a Grant of Probate to sell a property.  We are very sorry to learn of your loss. 

We deal with Executors and beneficiaries daily, so we’ve put together this guide on how to sell a house through probate.

When you have just lost a loved one, your mind is often not in the right place.  We all live busy lives with stresses of work, children and home life and on top of that, you now have to deal with a probate property.  Often, an Executor or a beneficiary finds themselves in this position for the first time and not knowing how long probate takes to sell a house.  By now, you will have applied for a Grant of Probate and now exploring the possibility of selling a house in probate.

If you have inherited a property with a mortgage, you will need to keep up with the mortgage payments or apply for a mortgage holiday; otherwise, your mortgage lender could start repossession proceedings, and you will end up with an extra bill to pay.

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Simple Guide on Selling Your Probate Property

Our guide simplifies the process of selling your probate property.  You will find several guides on selling an inherited house that answer vital questions such as “If I sell an inherited property, is it taxable?” and “What happens to a mortgage when someone dies?”.

With the right knowledge, you will be in a position to make informed decisions and potentially save yourself thousands of pounds.  You will reduce your stress levels by knowing what to do and when.

Our guide aims to answer the following questions:

Do you need a Grant of Probate to sell a house?
Grant of Probate or a Letter of Administration gives you, the Executor, the legal authority to sell the house and distribute the proceeds amongst beneficiaries.

Do you need a Grant of Probate to sell a house?

You will need a Grant of Probate or a Letter of Administration to sell your inherited house.  Once you have the original Will and the original Death Certificate, you can apply online by clicking on the official government website.  There will be a fee to be paid, which we can reimburse if you decide to sell your inherited property to us.

You can only sell a deceased estate legally once you have obtained a Grant of Probate.  If the affairs of the estate are simple with a UK property and UK bank accounts, then you can manage it yourself and save yourself thousands of pounds in professional Executor fees.

If the deceased owned properties abroad or has a more complex financial arrangement, then it is likely that you will need to hire a professional Executor to act.  If you are considering this option, always agree on fees upfront, as professional executives can charge eye-watering fees.

How long do you have to sell a deceased estate?
It is important to recognise that the longer it takes to sell a probate home, the higher probate bills and fees will be. Watch out for professional Executor fees!

How long do you have to sell a deceased estate?

There is no strict timeframe for selling a probate property.  However, the longer it takes, the more likely the costs will rise.  These are some of the costs relating to a probate property pending a sale:

  1. If your inherited property had a mortgage, you must inform the lender. They might freeze interest and charges, or they might choose to charge you daily interest until the mortgage is redeemed.  The lender might stipulate that you have 2-3 months to sell your inherited house.  If you aren’t sure if the deceased’s property had a mortgage, for just £3.50, you can check with the Land Registry by downloading an official title register.
  2. Professional Executor fees – usually they are based on an hourly basis rather than a fixed fee basis so often it makes sense to agree to an early sale rather than incur additional fees.
  3. Check whether your inherited empty property has insurance coverage. Often, an insurance company will void the cover if a property has been empty for more than 28 days in a year.  You’d want the best cover and not the cheapest cover.  Opt for a full perils cover, as this will include theft.  However, be aware that empty property insurance can be very expensive. This is because an empty property is at high risk of break-in or possibly even squatters moving into the property!  As Executor of the estate, or as one of the beneficiaries, it is your responsibility to ensure that the property is secured. We offer to reimburse you for the insurance, as part of our service, if you sell your property to us.
  4. Utility firms and council tax can quickly start sending you final demand letters and even add their charges for non-payment. Make arrangements to pay the bills, as they could start legal proceedings if their bills remain unpaid.  This could potentially reduce your inheritance share.
  5. The saying ‘prevention is better than cure’ really applies to routine maintenance of an empty property. An empty property needs to be maintained, and you will need to take the necessary steps.  If the property is empty with overgrown grass, it will be targeted by thieves, vandals or squatters.  The insurance company may cancel your policy if the property needs urgent maintenance such as having a leaky roof.  With a quick sale to Property Saviour, we can buy your property in its current state and pay you in cash.

Caution – please be careful before instructing a house clearance company.  Carefully check for the Will, bank accounts, savings, pensions, share certificates, jewellery, art or other valuables.  Better still, sell to Property Saviour, and we will offer you free house clearance and donate items to the British Heart Foundation.

If I have to sell an inherited house do I have to pay any tax?
Inherited properties come in all shapes and sizes and some needs a little more TLC than others. Above - a living room with uneven concrete flooring.

If I sell a house I inherited, do I have to pay taxes?

It depends on the value of your inherited estate to determine if any inheritance tax is payable. We have covered several tax-related scenarios ranging from income tax, inheritance tax, stamp duty land tax and capital gains tax in our guide on “Do you pay tax on inherited property in the UK?

How to sell a house under probate?
It is normal for an inherited house to come with possessions. We donate these to British Heart Foundation and offer a free house clearance service.

How to sell a house under probate?

Often, beneficiaries and Executors look to estate agents to help sell a property.  After all, they are the experts, right?  Wrong.

In our experience, probate properties can put off buyers for the following reasons:

  1. Grant of probate delays – often, a Grant of Probate can take up to two months due to backlog at the probate office. Let’s say your buyer instructed searches and obtained a mortgage offer, which is tricky given that your inherited property might need some updating.  Their mortgage offer is only valid for three months, and searches become invalid after six months.  Therefore, they must obtain a new mortgage, re-apply, and undergo stringent checks.
  2. Move-in date – your potential buyers might have a move-in date in mind to get their child into a particular school, or a job relocation, or they have given notice to their landlord and must be out by a certain date. Even if they wait for a grant of probate with no confirmed date in sight, once you have obtained it the whole conveyancing process needs to commence.  According to The Property Industry Eye, “the UK conveyancing sector is not fit for purpose”.  The current timescales can be anything from 3 to 6 months to conclude once you have obtained a Grant of Probate.
  3. Property Description Act – As a beneficiary or an Executor, you will not have intimate knowledge of the house as the deceased did. If a professional Executor manages the deceased estate, he/she will have an uphill battle to climb when answering queries raised by the buyer’s solicitor.  You can be sued if you misled the buyer or deliberately provided incorrect information.  In the absence of clarity, a typical buyer’s mortgage company will not release funds resulting in an abortive sale.
How long does it take after probate to sell a house?
Once you have obtained a Grant of Probate, we can buy it within 10 working days - or at a timescale that suits you. There are no fees to pay.

How long does it take after probate to sell a house?

If an inherited property has a mortgage left, the lender will give you up to 3 months to sell it. Even if you agreed to the sale of your property, it might take longer than 3 months if you used typical slow-to-act solicitors.

We’ve seen that selling an inherited property via an estate agent does not work for the vast majority of beneficiaries and Executors.  With no guarantee of a sale progressing, as any buyer’s priorities will likely conflict with your timescales, it often pays to look at alternative ways to sell.

Often, dealing with the death of a loved one can lead to disagreements between the beneficiaries.  If you wish to avoid anxiety, uncertainty and financial hardship, then selling your inherited property fast for cash can be a feasible solution.  We can sympathetically deal with all beneficiaries and work with the Executor to agree to a fair sale price.

With Property Saviour, the price we offer is the price you will receive.  You have to be careful as many of the We Buy Any House Companies use unethical practices such as:

Our reviews are left by real sellers who have kindly given us their permission to share their case studies.  These are real people, we’ve helped and if you look at other “We Buy Any House Companies” websites’ you will notice a recording studio featuring smiling actors.

We buy any house companies reviews
Lots of 'We Buy Any House Companies' instruct a fault finding surveyor to reduce their offer. Property Saviour's offer is guaranteed. The price agreed is the price paid to you.

How long does a probate property take to sell?

If you have obtained a Grant of Probate or a Letter of Administration then you can sell your probate property within ten days to a cash house buyer such as Property Saviour.

If you go through an estate agent, it can take up to six months to sell a property provided that your buyers can get a mortgage which in most cases, they won’t get if the property needs work.

Does probate need to complete to sell a house?

You can’t complete the the sale of a probate property until you have obtained a Grant of Probate or a Letter of Administration (if there was no  Will) however, you can agree to sell the inherited house for cash and complete the sale within 10 days of receipt of Grant of Probate. 

As an Executor, you can then settle the affairs of the estate and distribute proceeds amongst beneficiaries.  It is currently taking between 6 to 8 weeks to obtain a Grant of Probate from the Probate Office.

Do you need grant of probate to sell property?

Grant of Probate gives you, the Executor, legal authority to sell deceased’s relatives property and settle their probate estate by paying any taxes, settling probate bills and then distributing inheritance to nominated beneficiaries in their Will.

Can you sell an inherited property after probate?
Once a Grant of Probate has been issued, you can sell an inherited house. 

Can you sell an inherited property after probate?

Once a Grant of Probate has been issued, you can sell an inherited house.  The longer it takes to sell, the more it will cost to the inherited estate and that’s why many Executors prefer to sell to cash house buyers such as Property Saviour.  We can complete the sale in just ten days or quicker.

Who owns a property during probate?

It is the inherited estate’s nominated Executor who owns the property during the Grant of Probate and its resale. 

The Executors are politely reminded to ensure that the property is insured with a full perils cover as a vacant property and they inspect the property at least once a week.  Council tax can be as much as 200% of the normal rateable value until the property is sold.

How do I sell my house after probate is granted?

You have three options available to you:

  1. Sell to cash house buyers.  Complete in ten days with no fees, no survey, no hassle or delays.  Get up to £1,500 towards your legal fees.
  2. Sell via estate agent. Agents tend to over-value a home to win the business.  Buyers will need mortgages and banks don’t lend on properties that might need a little bit of TLC.  This will leave you frustrated having wasted several months and paying for abortive solicitor’s fees, council tax, mortgage and empty home insurance policy.
  3. Auction your property.  You’ll need to put in a very low guide price.  Buyers may not exchange contracts if it is a ‘Modern Method of Auction’ so can pull out.  You’ll need to pay upfront entry fees and legal fees for preparing the legal pack.  Auctions can take up to three months to conclude with no guarantee of a sale.
Do probate properties sell for less?
Property Saviour can help you make a fair offer.  We are transparent in our offer to you.  You can complete the sale in ten days with no fees.

Do probate properties sell for less?

No, but you need to have realistic expectations of the inherited property’s value based on its current condition. 

You’ll need to take into consideration any renovations required.  Property Saviour can help you make a fair offer.  We are transparent in our offer to you.  You can complete the sale in ten days with no fees.

What happens after probate has been granted?

Once a Grant of Probate has been obtained from the Probate Registry Office, you can sell your inherited property.  Selling it to a cash house buyer means you can complete the sale within a few days, with no fees to pay and no delays. 

You can receive your inheritance within ten days provided your solicitor can send us the contracts.

Can you exchange contracts while waiting for probate?

You can do a conditional exchange subject to a Grant of Probate being issued and then complete the sale within tens afterwards.

Executors trust Property Saviour to sell their probate properties within ten days with no delays, no fees to pay and no excuses.

How much do solicitors charge for probate
Solicitors can charge up to 5% plus VAT to help you obtain a Grant of Probate however, you may be better off doing this yourself.

How much do solicitors charge for probate?

Solicitors can charge up to 5% plus VAT to help you obtain a Grant of Probate however, you may be better off doing this yourself.

Here are reasons why people trust Property Saviour with their inherited property:

Let’s chat?

Have you obtained a Grant of Probate? Let us help you sell your inherited property fast.  You tell us when you’d like to complete the sale.

We are not estate agents. We are genuine cash house buyers.

With no fees to pay, our unique offer includes an extra £1,500 contribution from us to pay for your legal and probate fees.  No wonder we are rated as excellent and a leading buyer of inherited properties in the UK.

If we can agree everything, we will insure the property at our own cost. To start the process, fill in the enquiry form for your free no-obligation offer.

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Property Saviour Price Promise

  • The price we’ll offer is the price that you will receive with no hidden deductions.
  • Be careful with ‘cash buyers’ who require a valuation needed for a mortgage or bridging loan.
  • These valuations or surveys result in delays and price reductions later on.
  • We are cash buyers.  There are no surveys.
  • We always provide proof of funds with every formal offer issued.
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  • No long exclusivity agreement to sign because we are the buyers.
  • You are welcome to use your own solicitor. 
  • If you don’t have one, we can ask our solicitors for recommendations.
  • We share our solicitor’s details and issue a Memorandum of Sale. 
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  • Our approach is transparent and ethical, which is why sellers trust us.
  • 100% Discretion guaranteed. 
  • If you have another buyer, you can put us in a contracts race to see who completes first.
  • Complete in 10 days or at a timescale that works for you.  You are in control.
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