Buying & selling your own house can be stressful enough but selling the house of a loved one can involve most of the same difficulties and more without the reward of anew house at the end.
Many of the people selling the properties of loved ones cherish their memory and will want to do their best and maximise the value of their home. Where loved ones areelderly or infirm, those selling have the worries of ensuring their loved ones are getting the right care and attention as well as dealing with all of the financial aspects that come with that situation. Where loved ones have sadly passed away, as well asgrieving the property can sometimes be a long way away and it can be difficult to find a trusted agent to handle the process on your behalf.
Unless you are the surviving partner of the owner of the inherited property, transacting the property can be a very long and complicated process. The executor of the estate and the courts can take months to determine and divide the deceased assets. This is often a very stressful process for all beneficiaries who are dealing with not only the loss of a loved one but also the fact that they may need to sell the inherited property for financial reasons.
There are many reasons why people choose or may need to sell the property of a loved one. The most common reasons are:
What is probate?
Probate is a legal document. Receipt of probate is the first step in the legal process of administering the estate of a deceased person, resolving all claims and distributing the deceased person’s property under a will. Probate can often take from 3-6 months for simple Estates then a decision is made as to how and when the deceased assets will be distributed to the beneficiaries
What happens if I’m under time pressure to sell?
There may be several factors pushing you towards a quick sale, bills to cover for the loved one, funeral costs solicitors and the costs associated with the administering of the estate of a deceased relative but we recommend that you talk to us first to see how we will be able to meet your needs in a timescale to suit your needs.