-
Probate sale advice
Selling an inherited property
A probate house sale is typically accompanied by lots of other business related to handling a deceased person's estate and this can make it challenging. Probate properties often provide extraordinary opportunities for buyers and it's important to ensure you choose the best method for selling an inherited house.
In many cases, the best method of sale for a probate property will be an auction.
Higgins-Drysdale is a new, innovative and pioneering business for buying and selling property. We operate nationally (England and Wales currently) and provide a service that is unrivalled with regard to advice, speed of sale and price. As auctioneers we are legally and ethically obliged to give you the best advice possible, specifically with regard to the method of sale and price.
We understand that probate house sales usually occur at a difficult time and know that the probate process can be daunting. We are here to help and can provide professional advice regarding how to proceed with a probate house sale and what to focus on.
If you are an executor, you are legally bound to ensure you achieve the best value when selling estate assets for beneficiaries and we guarantee to provide the best advice in this regard depending upon your situation. This sets us apart from estate agents who will only look at one method of sale – private treaty; they are unlikely to be able to advise you on all available methods of sale. An estate agent's focus is on a very small part of the probate house sales picture whereas we can assist with the entire process, from the initial consultation and valuation letter to the actual sale at auction.
-
Best advice for selling an inherited property
The probate process explained
In England and Wales, probate is the word normally used to describe the legal and financial processes involved in dealing with the property, money and possessions (the assets) of a person who has died. Collectively, the assets are known as the deceased's 'estate'.
Before the next of kin or an executor named in the Will can claim, transfer, sell or distribute any of the estate assets they will need to apply for a grant of probate or letters of administration if there is no Will.
A grant of probate, or letter of administration, is the legal document required to access bank accounts, sell assets and settle debts after someone has died. The executor will need to identify all of the deceased’s assets to determine their value (including houses, flats or any other real estate property) so that the taxable value can be calculated for HMRC tax purposes.
As an executor or estate administrator, you can be undertake the probate process yourself or you can hire a solicitor. Provided there are no complications, it usually takes between four and eight weeks to receive grant of probate once the application is submitted. When you have the grant, the amount of time it takes to complete the probate process depends on the complexity of the estate.
An estate that includes multiple properties to sell, business assets and an investment portfolio, for example, will inevitably take longer to deal with than one simply consisting of money in a bank account. Higgins-Drysdale can help you by providing a simple solution to probate house sales.
-
Take the next steps
Start your probate house sale consultation
We fully understand the sensitivity and emotional nature of a probate house sale. Contact Higgins Drysdale so that you can tell us about your property and requirements, without obligation.
Our discussion will enable us to compile your full property sale appraisal, provide you with the probate valuation letter and everything you need to make the best decision concerning how to proceed with the sale of a probate property (often the most valuable asset in the estate). It also means that you won't need to visit multiple estate agents and you will receive the best advice regarding the most appropriate method of sale and price when it's time to sell the property.
The information we need
In order to provide a valid probate valuation for the property, we will need to know when the deceased passed away, whether there is a valid Will and, if applicable, who the appointed executor is.
In terms of the property particulars, we will need the address, property type, number of bedrooms and internal condition (poor, average, and good or A1). We do not need to visit the property to provide the probate valuation.
Why sell a probate property by auction?
Sale by auction is transparent and public, and is much favoured by executors to ensure that there is no dispute once the property is sold. A sale by private treaty via an estate agent is a closed-door process that may, in some cases, result in issues and claims against the executor.
Contact Higgins-Drysdale today to start your probate house sale.
Find out more: