If you do, however, require a Grant of Probate to sell the property, it is vital to get the process of obtaining one underway as soon as possible. Having the document means that those given the responsibility of handling the deceased’s Will will have the required authority to sell the property and can sign any paperwork needed to complete the transaction.
Conveyancing delays are not uncommon due to the Grant of Probate not being obtained and the process of getting one can drag on, so it is always prudent to make this task the first one to tick off your list. A general rule of thumb is the more complicated the estate in question, the longer Grant of Probate will take to obtain. Prepare to wait anywhere between six to 12 weeks if the estate you are dealing with happens to be complex and taxable.
Once the Grant of Probate has been obtained, the process of disposing of the property can properly begin. Selling a probate property can involve a certain amount of forms and red tape that will need to be handled, either by the seller themselves or the executor of the Will. These will vary depending on the circumstances of the estate and the property in question.
Contrary to many people’s beliefs, the actual selling part of the process can be relatively painless. Sellers are advised to make the best of the property before putting it on the market if they are after a speedy sale, and simple things such as auctioning off unwanted furniture and cutting the lawn can make the world of difference.
While a property inheritance can be seen as a windfall, it’s important to remember that empty properties can quickly turn into liabilities rather than assets. Deciding on whether to sell or rent the property as soon as possible is often the wisest move in such situations. Remember, if a property remains empty for longer than 30 days, you may need to take out vacant property insurance, too.
Selling a probate property is part of a legal process, so you are strongly advised to seek professional help when handling such a sale. Emotions are likely to be running high at such a difficult time, so having a reputable solicitor on hand can be well worth the fees for this reason alone.
The grant of probate not only gives permission to handle an estate but also to sell the property. Surviving family members and executors can usually sell the property without a grant of probate. However, if you do in fact need a grant of probate it is important to obtain one as soon as possible. This will grant the authority to sign any paperwork needed to complete the sale transaction. The larger or more complicated the estate is the longer it can take to obtain a grant of probate. Once obtained the selling of the probate property can begin, similar to selling any other property.