How To Sell a Probate Property: Your Complete Guide

Max Royston

Dealing with the property and finances of a deceased family member can be difficult to wrap your head around, especially during an emotionally challenging time. Understanding how to sell a probate house is a good place to start. That’s why Gaffsy, your trusted cash house buyer, has put together a step-by-step guide to walk you through the whole probate property process so that you can feel confident and at ease every step of the way.

Key Takeaways/Points:

• You cannot sell your probate property without applying for a legal document called a ‘grant of probate’. This application can only be made by the executor or executors of the will.
• It can take 12-14 weeks for probate to be issued, this needs to be considered if you want to start putting your house on the market and all relevant parties should be made aware of the timescale.
• Inheritance tax must be paid on the property after probate has been issued, unless exempt. There are various charges that you can incur if it takes time for the vacant property sale to go through.
• Cash sales are the fastest way to sell your probate property. With no additional fees, you can receive your money almost immediately and completion will be just as quick after probate is granted.

What is Probate?

Probate is the legal and financial process of managing the estate of the deceased. It is usually required if the deceased owned property or had significant assets or investments. Probate involves proving that the will is valid and confirming who has the authority to administer the estate.

 

What is a grant of probate?

A grant of probate is a court-issued legal document that validates the authority of the executor or executors to manage the deceased person’s property, assets and finances (their estate). This process can take at least 12 weeks so it is important to consider this aspect when you are looking to begin the process of selling a probate property. 

When probate has been granted, you are legally able to sell your property as per the will instructions. In the event of there being no will, a grant of letters of administration will be issued instead which, although slightly different, operates similarly.

How many people can apply for a grant of probate?

The executor of the will is responsible for applying for a grant of probate. In the event of there being multiple executors, present rules indicate that up to four people can apply for a grant of probate on behalf of the deceased individual, although this isn’t always necessary.

How to apply for probate

Probate applications can be submitted online or via post. If you choose to complete a postal application, you can download and print the relevant forms from the Government website to complete and send to your local probate office. You will need:

• PA4P Probate application form
• The death certificate
• A completed inheritance tax form
• The original will and three copies

Online applications can be made by completing the online form, ensuring you have:

• The death certificate
• A completed inheritance tax form
• The original will

How much will it cost to apply for probate?

Probate fees are subject to the final value of the estate. Should the estate value be over £5,000, you would pay £300 to apply for probate. If the estate value is less than £5,000, there will be no fee. 

Additional copies of the document can be made available for as little as £1.50. However, should there be a second application where probate has already been granted, a fee of £20 applies regardless of the estate value.

How long does a probate house sale take?

Probate is usually granted within 12-14 weeks of application. However, selling inherited property after probate can take much longer, in some cases as long as a year for the sale to be completed. 

Can I sell a house before probate is granted?

Legally, nothing is stopping you from putting your property on the market, conducting viewings and even agreeing on a sale price with prospective buyers before probate has been granted. However, it must be in place to exchange contracts and complete the property sale.

It is important to keep in mind that it can take 12-14 weeks for the grant of probate to be issued after application. If you decide to go ahead and put your property up for sale before probate has been granted, it is heavily advisable that all relevant parties, such as estate agents and potential buyers, should be made aware that the probate property process could delay the sale. 

As you can imagine, some buyers may be looking for a quick house move if their property chain has been completed, whilst others may be in a better position to wait, especially if they have their hearts set on your property.

How long do you have to sell a house in probate?

The executor should begin the process of distributing the estate within the first 12 months. This is called the ‘Executor’s Year’. 

Whilst there is no set time limit, it is in your interests to sell probate property fast as the longer it is on the market, the higher the estate bills will be, resulting in a reduction in the inheritance amount. 

A common pressure is the need to pay inheritance tax after six months. If the six-month deadline comes up before the property has been sold, and there isn’t enough cash in the estate to pay the tax, the executor might find themselves in a tricky position. The executor can pay the tax out of their own funds, which can be repaid once any property has been sold, but that can be a complicated process. 

HMRC issues penalty fines if the tax isn’t paid within 6 months. If the tax isn’t paid on time, HMRC also has the power to withhold receipts, preventing probate from being granted to the executor. 

That’s why many choose to sell their probate property via a cash house buyer as this tends to be the quickest way to complete the house sale given that funds are available almost as soon as probate has been granted.

Executors, Beneficiaries & Multiple people ownership challenges

Selling a home that may have sentimental value or where multiple executors and/or beneficiaries are involved has the potential to be an emotional or challenging process. It’s not uncommon for there to be some tension and disagreements.

There are two types of people named in the will:

Executors

The executor or executors are responsible for the legal management of the deceased person’s estate and carrying out its instructions. They will apply for probate and, once granted, have the legal right to sell the home. The executor(s) are also responsible for paying off any debts or outstanding bills and calculating and paying any inheritance tax.

Beneficiaries 

The beneficiaries are people or organisations that have been named to receive assets from the deceased person’s estate. These assets may come in the form of inheritance or trust.

Multiple people as executors/beneficiaries

Only the executor or executors will hold the legal authority to approve the property sale, other beneficiaries typically do not require approval.

In the event of a below-market sale, dissatisfied beneficiaries can pursue legal action against the executor or executors, although this is an uncommon occurrence. Open communication and documentation of agreements are useful during a sensitive time.

5 Step-by-step probate process

1. Apply for Probate 

The executor of the will should apply for a grant of probate either online or via post. This gives you the legal right to sell your probate property. Remember, it takes at least 12 weeks for probate to be issued – this should be considered when you are planning to sell probate property.

2. Get a valuation 

Probate house valuations determine the market value of the property on the date of the owner’s death. This can be done while you’re waiting for probate, or sooner if you can. 

3. Legal issues, titles, deeds 

A title and deeds are legal documents that outline who owns a property. It is highly recommended that you seek the advice of a solicitor to review legal documents such as titles and deeds should there be any restrictions or defects that may impact the sale. For example, an undisclosed mortgage or shared ownership by another party. These documents can be obtained from the HM Land Registry.

4. What if there are disagreements about selling 

Ultimately, the appointed executor or executors hold the legal authority over the property sale unless the involvement of other beneficiaries is stated otherwise. In the event of a below-market sale, dissatisfied beneficiaries can pursue legal action against the executor or executors, although this is uncommon. Open communication and written documentation of agreements are advisory.

5. Contact Gaffsy for a quick, easy and hassle-free sale 

The fastest way to sell a probate property is via a cash house buyer such as Gaffsy. With no additional fees, a free valuation, and funds which are available immediately you can sell your probate property as soon as probate has been granted, this is the quickest way to guarantee a sale.

What should you check before a probate sale?

There are a few things to be mindful of when you sell a probate property that will help to prevent additional costs and make sure the process goes as smoothly as possible.

1. Vacant property insurance 

Contact your current insurance provider to determine whether they are happy to continue with a policy on a probate property. If it is not insured, it is recommended that you seek insurance. Discuss with your service provider as a property in probate may see higher costs in insurance. Most home insurance policies will not cover properties that are unoccupied for longer than 30 days so it is worth doing some research.

2. Check the safety 

Vacant properties are at higher risk of burglary so you may want to consider removing valuables from the home and putting them in a safe place. It is also worth visiting often to check in and to show that the property is often looked in on.

3. Consider utilities 

Rather than discontinuing all utilities now that the property is vacant, consider whether it may be beneficial to keep some running. For example, would it be wise to keep the heating running to prevent dampness? Preventing property damage will help create a better impression when the viewings take place. Executors may choose to use money from the estate to maintain the empty property.

4. Notify the council of the property being vacant 

No council tax will be due until you get probate, at this point you can apply for a discount. However, be aware that if the property is left empty for a substantial amount of time you could be liable for a significant increase in council tax charge. This can vary across the country so it would be advisable to speak to your local authority if this is something that you are concerned about. You can find out more on the Gov.uk website.

5. Look at possible repairs and maintenance issues 

Some may be cosmetic, and others essential. By carrying these out, there is a chance you may see the property increase in value. Executors may also choose to use money from the estate to make any of these necessary improvements as it can be a good investment before putting the property on the market.

Get a cash offer for your property

There are a few approaches to selling inherited property after probate depending on how quickly you want to sell or how much of the true value you would like to receive.

There is the traditional route by way of an estate agent which is probably the most common. However, this can be the slowest way to sell a probate house. As we discussed earlier, whilst you can get as far as agreeing on a sale price with the prospective buyers, with such a lengthy process and the rolling expenses that come with it, many choose alternative routes.

There is the option of property auction which can be a good way to make a fast house sale – in many cases, the sale can be completed in as little as 28 days. However, this process cannot begin until probate has been granted, and there will also be fees when choosing this method which can vary per auctioneer.

Alternatively, you can sell probate property via cash house buyer. This is the fastest way to complete a house sale with Gaffsy funds immediately available to buy your home directly from you. There are no time delays. It is a simple transaction with no chain which means no risk of a break, there is no time spent negotiating due to a clear cash offer and we will cover your legal fees. Completion will be just as quick once probate has been granted. If you are looking to sell a probate house fast for cash, contact the team of property experts at Gaffsy for free probate house valuations – the whole process will prove to be much smoother and faster than more traditional avenues of house sales.