The term probate can be a daunting and confusing word when you are managing a deceased relative’s estate.
There is likely to be a lot of legal jargon thrown about, but this will be one of the main terms they use. But, what is a probate property?
In this post we will answer this question as well as explain how we can help you during this stressful time.
A probate property is simply the term used by lawyers to describe the property of a deceased person.
The term probate is the process whereby the deceased owner is removed from the official ownership documents and passed over to whomever they allocated to receive the property/money etc. Usually this will all be outlined in their will (if they have one) so that there is no confusion about who is getting what.
The probate process can be quite lengthy and made up of a lot of paperwork and your executor (legal representative of the deceased) attending a probate court to pass ownership. However, the executor should be able to explain the whole process and will make it as easy and stress free as possible.
If you were mentioned in the will as the recipient of the probate property, once probate has been passed you will be the official owner. Then it is up to you what you do with the property.
You can either:
However, if you do keep the property empty for a considerable amount of time, you will need to pay a premium council tax rate. The exact amount can be checked through your local council website.
In order to sell a probate property, you’ll need to obtain a legal document called a ‘Grant of Probate’.
This confirms the validity of the Will and names the executor who has the legal authority to sell the house. Obtaining a Grant of Probate can take 12 weeks plus, so bear this in mind when looking to sell the property.
In order to apply for the Grant of Probate, you will need to obtain a valuation of the deceased’s property.
This needs to calculate the value of the property at the date the owner died, not the current selling price.
At this stage, you should also check the property’s title. You should be able to do this with the Land Registry. You should ask your solicitor to find out if there are any restrictions on the property.
Once you've got the initial legal documents in place, selling a property after a death can be simpler than you may think.
Buyers are often attracted to the property being chain free, moving timescales are more flexible and developers often see probate properties as a renovation opportunity.
Selling probate property as an executor is a little bit different from the usual sales process and understandably can be very stressful.
Here at Jones Robinson Estate Agents, we are specialists in handling probate property sales, and we appreciate the emotional and legal complications, and will walk you through every part of the process.
Everything will be at your pace from the viewings to the final sale. You don’t need to rush any decisions and we will give you as much support with the house sale as you need. We can even help recommend house clearance and moving services should you require these.
When it comes to the selling, we are thorough and will utilise all the mainstream portals to advertise the probate property. We will also utilise our own marketing avenues to boost advertising. We will also ensure we take high quality, detailed photographs and floor plans, so potential buyers have a good view of the property before they even reach the front door.
We are always open and honest about your probate property sale. Whether this is your first house sale or your 10th we are always happy to go through the full sales process with you.
We are always at the end of the phone or email should you have any questions or queries.
As a local estate agent in Newbury, Devizes, Lambourn/Hungerford, Didcot, Marlborough and surrounding areas we can also support you with recommendations for any local commodities. This includes short term rental accommodation should you need to stay in the area for some time whilst sorting out the house.
To find out more about how we can support you through a probate property sale contact us today.