Handling the sale of a property after the passing of a loved one can be an emotional and complex process. Understanding probate and preparing properly can help make things smoother.
Understanding Probate
Probate is the legal process that grants permission to manage and distribute a deceased person’s estate—including their property, finances, and possessions.
If you are named as an executor in the will, you have the right to apply for probate. If there is no will, certain family members may be eligible to apply as an administrator of the estate.
In most situations, probate is required before you can legally sell the property.
Preparing for the Sale
When selling an inherited home, some key steps should be taken before applying for probate:
- Assess the value of the deceased’s assets.
- Obtain two or three property valuations from experienced estate agents.
- Be mindful that the valuation may impact inheritance tax—seeking advice from HMRC or a solicitor can help avoid surprises later on.
The probate application process can take between four and eight weeks. While you can begin marketing the property during this time, the sale cannot be completed until probate is officially granted.
If you’re unsure about any stage of the process, working with a knowledgeable solicitor and an experienced estate agent can ease the burden.
Five Important Considerations
It’s easy to overlook certain aspects when dealing with an inherited property. Here are five things to keep in mind:
1. Handling Sentimental Belongings
Clearing a loved one’s home can be emotionally challenging. It’s often best to involve family members first to decide which items to keep before donating or using a clearance company for the rest. Seeking legal advice beforehand is also advisable.
2. Property Security & Maintenance
If the property is unoccupied for an extended period, security and upkeep become key concerns. In colder months, heating and water systems should be checked regularly to prevent issues. Overgrown gardens, broken gates, or general neglect can also deter potential buyers, so maintenance is essential.
3. Insurance for an Unoccupied Home
Many people forget that a home left empty after a death may need special insurance. Contacting your insurer to discuss vacant property coverage can help ensure the home is protected. Most providers require additional cover if the property remains empty for over 30 days.
4. Selling to Family Members
Keeping a property in the family might seem like a straightforward option, but it can sometimes be more complicated than selling on the open market. Factors such as agreeing on a fair price, setting a timeline, and managing emotional ties can add unexpected complexities.
5. Being Cautious of Quick Sale Offers
While a fast cash sale might sound appealing during a difficult time, it can result in selling for significantly less than market value. Estate agents experienced in probate sales can ensure the home is properly marketed, helping beneficiaries achieve the best possible outcome.
