Probate is the legal right to deal with someone’s property, money and possessions (their ‘estate’) when they die. Ensuring the correct beneficiaries receive their inheritance, whether there is a will or not.

Many estates often include a property or more than one, which could make up the bulk of the value of the deceased’s estate. The deceased must have owned the property for it to be considered a probate property.

As a property auction firm we focus our attention on the property asset, however we can also assist with everything left within the property if required. This includes all the contents inside and any valuables which may be within the house. This may consist of cars, antiques, jewellery and so on.

Executors and Beneficiaries:

We understand that you have a legal obligation to achieve the best possible price for probate property. It goes without saying that we want to help you realise the best result for the deceased so that they can pass on the monetary value to the beneficiaries and also help to draw a line under what is undoubtedly a very emotional period.

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.

Unlike ordinary properties, it is likely that you will be dealing with an executer of the estate opposed to the previous occupant. Executers can have limited knowledge of the property and could have trouble producing certain document which would be easy with a regular property. Despite this, probate properties can often be a bargain and a great way to get your hands on a good property for a lower price. However, it’s always a good idea to take precautionary steps. It’s the buyer’s responsibility to find any problems with the property. This may be particularly present in a probate property that may have been rushed to market without preparation for sale. For this reason, it’s a good idea to have additional property checks carried out.

We are experienced in dealing with the scenarios arising from probate property. Often this can be a complex process for those who aren’t familiar with probate. There can be a lot to focus on and many clients find this quite overwhelming. Nominating MBPA to administer the estate doesn’t just mean we will get all documentation in order, we will also complete a full property clearance. Our property clearance services are divided into two phases:

Phase 1 is the stage where we clear paperwork, secure the property, and carry out bank searches.

Phase 2 consists of the removal of larger items such as furniture and a deep cleaning of the property.

We offer a one-stop shop for probate property

We can arrange all of the necessary elements for you:

• EPC’s
• Conveyancer/property lawyer
• Legal Packs
• Property Home Report (Scotland Only)
• Property Clearance
• Property Clean
• Photography
• Listing aspects
• Survey (If needed)
• Block property viewings

Selling options to suit your probate needs:

1. Our Buy IT Now option allows you to list the property and obtain a FAST sale – without waiting for the auction to commence – offering completion within days – usually 28. The buy-it-now option allows for the property bidder to know exactly what the estate will accept and is available until the auction begins.
2. As the name suggests, our Minimum Price Guarantee option provides sellers with the opportunity to lock in a guaranteed minimum price (e.g. £80,000), but also provides the opportunity to put the property to sales platform. If the property then sells for more than the guaranteed minimum price (e.g. for £100,000) we would then split the difference (e.g. £20,000) 50/50 with the seller.
3. Formal ONLINE auction – With this option we would carry out a formal online auction visible for all to compete. Registration is compulsory and the nature of the transparent process is designed to ensure that the best price in the market is found. On fall of the electronic hammer, the buyers are locked in by way of a non-refundable deposit or exchange of contracts. The completion will take place within 56 days.