Selling A House During Probate Comes With Many Challenges
While lots of people see inheriting a house as a ‘good thing’, it can often be tainted by the loss of someone dear to you.
Sometimes, living in the house of your loved one is too painful – and at other times, the property is too far away for you to keep maintaining it and renting it out.
In situations like these, a house selling company can be extremely useful. It is the priority of Sold.co.uk to be sensitive to the difficult period you are going through when arranging the sale of your inherited house. We do not rush you into a decision and we are totally transparent about the services we provide, and the price that we can offer.
You can complete the sale of your probate property within 7 days when you contact Sold.co.uk. We have the funds to pay for your entire house up-front, without operating in a chain.
Let us help you.
You can rely on Sold.co.uk to buy your property quickly, smoothly and at a fair price. You’ll be able to avoid the headaches of negotiating on price, chasing up solicitors and finding the best estate agent to complete a sale.
Instead, we will take care of the selling process for you, while making sure that 100% of the funds goes into your bank account.
Get a free valuation and cash offer today
Reach 98% of all active buyers...
What to Consider When You’ve Inherited Property
When you should value a house for probate
Once you have decided to sell your inherited house, you need to get an accurate valuation for it. Sometimes, it may be worth getting several independent opinions, as this will give you a broader perspective of its true worth.
When you contact Sold.co.uk to value your house, we will make a realistic offer that considers the local economy, location, features, condition of the property, and several other things.
How long after probate can a property be sold?
You can sell a property as soon as probate has been completed. Many people in this position choose to prepare for the sale beforehand – for example, carrying out viewings and tidying the house – so they can exchange as quickly as possible once the Grant of Probate comes through.
Paying stamp duty on inherited property
You do not usually have to pay stamp duty on an inherited house, regardless of whether there is an outstanding mortgage or not. Sold.co.uk handles all legal paperwork when selling your probate property, saving you both time and effort.
How Sold.co.uk can help
You can count on Sold.co.uk to sell your probate property. Wherever you live in the United Kingdom, and whatever the circumstances under which you have inherited the house, we will make your life significantly easier.
Contact us today for a free, no-obligation valuation.
Get a guaranteed sale in just 7 days
Advantages of Selling Probate Property to Sold.co.uk
Selling your probate property to a cash house buyer offers a quick and easy solution to inheriting a property that you don’t want.
Sometimes, a probate property is a long way from where you live – and if you now own the house, it might be too much hassle to maintain it or rent it out. Equally, selling a house on the market often requires you to live nearby, so you can be present for photography, open days or in-person discussions with your estate agent.
To sidestep all of these time-consuming responsibilities, selling to a cash house buyer can make your life much easier.
You will also benefit from using a cash house buyer if your house is in poor condition. If it is derelict, or there is damp/asbestos, or any other number of issues with the property, Sold.co.uk will buy it in any condition. This saves you the time, expense and stress of fixing up the house, so you can sell it on the market.
When you use Sold.co.uk, you can avoid the time-consuming legal paperwork involved with selling probate property, too. We handle all of this documentation on your behalf, without charging you a penny for it – and with probate property, this can be valuable since there are typically more forms to fill in.
By working with us, you can cash in on the probate property that you’ve inherited and use the funds for something far more useful to you.
Get a free estimate of your home’s current value
Inheriting a Share of a House
Have you inherited a share of a house from a loved one? While this might seem a bit complicated at first, there is plenty of guidance out there to help you handle everything right.
When you inherit a share of a house alongside other people (for example, two other siblings, meaning that the property is split into thirds) it means that you all own an equal part of the property. From here, you and the other people must decide how to divide things up.
The two most common types of joint ownership are ‘Tenants in Common’ and ‘Joint Tenants’. The former option means that each person gets a share (although this doesn’t have to be equal) which can be passed on to someone else, if wanted. The latter choice means that everyone has an equal share, and therefore an equal say in what does/doesn’t happen with the house.
If you and the other recipients collectively decide that you don’t want the hassle of owning the house, you may choose to sell it and split the profits equally. This can save you a great deal of stress and complications.
Contact Sold.co.uk today for a free, no-obligation valuation on your house.
Reach 98% of all active buyers...
Inheriting a House With a Mortgage
Inheriting a house isn’t always a ‘walk in the park’ – and if the property has an out-standing mortgage on it, things can become a bit tricky.
When you inherit a house with a mortgage, you become responsible for paying it off, even if you don’t live there. If your loved one who has passed away had a life insurance policy, then this may help to pay for some of it, but if not, you can either sell the house and use the funds to pay off the remainder, or you can remortgage it.
For those who inherit a property entirely on their own, it is up to you what choice you make. If you have inherited a house with a mortgage alongside a few others, you will usually need to make the decision together.
Sold.co.uk helps thousands of people across the UK to sell an inherited house, so you are not stuck with ongoing mortgage payments. Our service gives you the funds you need within a couple of weeks, which can be invaluable when there are outstanding mortgage payments due.
Sell your inherited house fast with Sold.co.uk
Who owns the property after probate is granted?
Who inherits probate property is determined by the terms of the Will. In an ideal world, the deceased will have specified who they want the house to go to – and the executor will then transfer ownership to this individual.
Alternatively, if there is no Will, then the rules of intestacy determine who owns the house. This is usually the closest living relative of the deceased. In order of priority, this would typically be:
- Married partners or civil partners
- Great grandchildren
- Parents, siblings, nieces and nephews
There are some people who, according to the rules of intestacy, cannot inherit probate property. This includes unmarried partners, family in-law, close friends, and carers.
Contact Sold.co.uk today for a free, no-obligation valuation of your probate property.
How long does it take to sell a house after probate?
The average time to sell a house in the UK is at least four months – so if you wait until probate is granted to begin the selling process, you can expect it to take this long.
In some instances, selling probate property may take longer than usual, because the house could be in poor condition or have broken bulbs, doors, windows or more.
You may find that ‘typical’ buyers on the market won’t want to purchase your probate property if it is in terrible condition. A cash house buyer like Sold.co.uk, however, will buy your probate property in any condition.
That’s why thousands of people have already chosen to sell their probate property to us.
Everyone is talking about Sold.co.uk
What Happens After Probate Has Been Granted?
Once probate has been granted… what happens next?
The first thing you should do is settle the debts or taxes of the loved one who has passed away. Sometimes, this can involve small tasks like sorting out phone bills, but there might also be more substantial debts that you need to deal with.
Afterwards, the assets need to be distributed and (where relevant) sold. This could include selling off things like a company, which in itself can be challenging. The executor should also communicate with all affected parties throughout this stage, to make sure everyone’s wishes are heard.
Finally, once everything is calculated and everything has been paid, you can settle the estate according to the Will.
Without a Will, there are strict rules on who the beneficiaries will be, which you should follow. After this, you then prepare the final estate accounts, and the process will be completed.
Frequently Asked Quetions About Selling a House After Probate
Who owns a house under probate?
While probate property is ‘in limbo’, it is technically owned by the executor of the deceased person’s estate. This person won’t take ownership of the title deed but is still responsible for who the property is given to – including selling it, if that is the appropriate outcome.
Can you sell a house before probate?
No, you cannot sell a house before probate is completed. While some people choose to prepare for a sale, perhaps by cleaning the property or carrying out viewings, the official exchange of contracts cannot take place until after a Grant of Probate has been issued.
It is up to the new owner of the property whether the house is sold. Even if the majority of friends or distant family want the property to be sold, it is ultimately only up to the new owner(s) what happens to it.
It is generally recommended that you do not do too much cleaning or renovating before the Grant of Probate has been secured. Not only is this frowned upon, but you may accidentally throw away a possession that now belongs to someone else.
How much capital gains tax is there on inherited property?
Capital Gains Tax is a tax on the profit when you sell an asset that has increased in value since it was first bought.
You only owe capital gains tax on an inherited property (or shared) if you sell it for more than the amount it was valued at during probate. This can happen if you inherit a house, keep ownership of it for several years, and then decide to sell it further down the line.
Even in this instance, though, you might be able to avoid tax if the house has become your main residence.
Capital gains tax is charged at 18% for low-rate taxpayers and 28% for higher rate taxpayers. As of 2023, the annual tax-free allowance is £6,000 – which means that capital gains tax must be charged on everything over this.
For example, if a property rises in value from £500,000 to £600,000, then exactly £94,000 will be subject to capital gains tax.
Can a house be emptied before probate?
It can be tempting to ‘crack on with things’ when you initially inherit a house.
Watching the property sit around and gather dust while legal paperwork is processed can be frustrating – and it is common for family or friends to want to empty a house before probate is completed.
Unfortunately, the UK law states that you should wait for probate to be completed before you can empty a house.
While not everyone abides by this, it is strongly recommended that you do, just to avoid any potential complications further down the line. For example, if the details of the Will are still not known, then you do not want to throw away something which might now belong to someone else.
Do I have to sell a house after probate?
No, you do not have to sell a property after probate if you don’t want to. Some people choose to live in the house themselves, or rent it out, while others decide that cashing in is the right choice. It is entirely up to you.
Can you clear a house during probate?
It is recommended that you do not tidy out a house before probate has been granted, as you may inadvertently throw away something that now belongs to someone else. However, not everyone follows this rule.
Once probate has been granted, you can clear out the house.
What if the executor does not distribute the estate after probate in the UK?
If the executor does not carry out their responsibilities as they should, then the UK court can technically remove the executor. They can then assign someone else (usually the next closest living relative) to replace them.
Can someone claim against the estate after probate?
Yes, you can make a claim against an estate after probate. It is generally recommended that you do this as soon as possible, though, to avoid increased costs and greater difficulty recovering any assets that belong to you. You should also seek legal support with this process.
Does probate show the value of estate?
Once you receive a Grant of Probate, it will typically come with a confirmed figure for the value of the estate. This can then be used to help with distributing the estate.
How much does an estate have to be worth to go to probate?
An estate usually needs to go through probate when its total value is greater than £5,000. If the estate includes a probate property, then it will almost certainly require probate, because this will take the value over the threshold.
Will my house go through probate?
If you pass away, but your house is also in the name of your partner (who survives you) in a joint mortgage, then the house may transfer directly to them. In this instance, probate may not necessarily be required, depending on the size of the remainder of the estate.
If you do not have a surviving spouse, then probate will almost certainly be necessary.
Can you check probate on a property?
The UK government keeps a record of any Grants of Probate that they issue. Using the government website, you can search through these records yourself.
When is probate required?
Most of the time, when a loved one passes away, probate is needed. Even if the deceased person has not left a Will, their estate still needs to be dealt with, and probate is necessary to make that happen.
It is sometimes possible to avoid probate, although this will depend on the situation. If the deceased person’s estate has very little value (for example, less than £5,000) you may not need to go through probate. Similarly, if the person died with their assets jointly owned with someone else, then these assets will be transferred to the surviving individual.
Do probate properties sell for cheaper?
Probate properties are not intrinsically less valuable, although they can be harder to sell if (as is often the case) they are in poor condition. Often, if a house has been owned by the same person for several decades, it may have outdated systems, or have experienced natural ‘wear and tear’. If these are noticeable, then it will reduce the value of the house.
Some people choose to renovate/modernise probate property before listing it on the market. However, this can be costly and time-consuming in the short term. If you want to avoid this dragged-out process, then selling to a cash house buyer could be an excellent option.
Does property have to go through probate?
Property must go through probate if it does not automatically transfer to someone else whose name is on the mortgage. The value of the house, combined with the rest of the estate, must also be greater than £5,000.
Why does a house go to probate?
A property goes to probate to determine who it is transferred to. A Grant of Probate gives the executor the legal right to carry out this transfer on behalf of the deceased.
How to keep probate property secure while it is being sold
While there is no one living in the probate property, you want to keep the house secure. You can do this by insuring any valuable belongings in the property, and installing security measures (such as alarms, or additional locks). Your deceased relative may not have needed these while they were living in the house themselves, but now that it is empty, these measures might be a worthwhile idea.
Can I live in a probate property while I decide whether to sell?
Yes, you can live in a probate house (if it is rightfully yours) while you decide what to do with it next.
Can I sell a probate property with tenants living there?
When you inherit a probate property with tenants still living there, you become the new landlord. From here, you must follow the law and respect the rights of your tenants, just like in any other scenario. You cannot forcibly evict them without reasonable cause, although some people choose to offer a cash incentive to leave.