Can You Sell a Property in Probate?

If you’ve been left a property in someone’s will then chances are that you want to sell the property as easy as possible. However, selling a probate property is a little more complicated than regular homes and will take more time to process but that doesn’t meet it won’t sell.

Read on for all you need to know about selling a probate property.

What happens if a property is left to you?

Just because a home is left to you in someone’s will does not mean that you can immediately make decisions about what happens to it. If the deceased has left a will then you will need to apply for a grant of probate, this involves the named executors (which is usually a solicitor) settling debts, taxes and other affairs before handing over assets to the beneficiaries. The process can take several weeks, months or up to a year depending on the complexity.

Can you still sell a house under probate?

While you cannot officially transfer the ownership of the property as probate is still being granted, you can put it up for sale. If you decide to have it listed, make sure you tell the estate agent about the probate situation so they can inform prospective buyers.

You can legally put the house up for sale, conduct viewings and even agree a sale price before the probate is completed but you cannot exchange contracts before it is granted. Some buyers will be willing to wait buy other will not if they need a house quickly, it completely depends.

What can you do to speed up the sale?

Granting probate is a legal matter that cannot be rushed but there are some things that you can do to increase your chances of a quick sale, including:

●     Selling the property through an auction.

●     Renovate or modernise the property to make it more attractive to buyers.

●     Set a fair price is the property is in need of work.

●     Provide as much information as possible to potential buyers.

At Mark Redler Solicitors, we offer a range of services including advice and assistance, an Application for a Grant of Probate and full estate administration, or any combination of these services. As legal specialists, we’ll work alongside you to settle your legal matters in the right way. Get in touch with us today for more information.