Selling an inherited property..

We can get very focussed on the excitement and anticipation of selling a house and searching for a new home, but of course not everybody selling a property is feeling that way – for some, they are selling a home made vacant by the death of a loved one.

It’s not unusual for one of our team to take a call that starts with being told of the death of a parent, or grandparent, and being asked to explain how they go about selling that home.

The first answer is very simple, you cannot complete a sale on a property until Probate is complete and you are the owner, or co-owner, of that property. You can, however, put the property on the market, with the understanding that it cannot complete sale until Probate is issued.

This is our recommended advice only when a Will is in place that is uncontested and will proceed through the Probate process at the usual speed – around three to four months. Should your relative have died intestate, even if there are just one or two clear descendants to inherit, the process will take longer, and we suggest a home is not placed for sale until a solicitor advises that a Letter of Administration will soon be issued. Should there be a Will, but it is likely to be contested, you will also be unable to sell any property until it is resolved and Probate is issued.

Under all three of these circumstances, however, you will need to have the property valued and choosing an estate agent with experience in working in these circumstances is recommended. Not only do we understand the situation, but are familiar with the additional steps that must be followed before an inherited house can be sold.

It’s also wise to talk to a practised estate agent about any improvements or refreshments that would be of benefit before placing the house for sale. It’s rare that we suggest anything that would require any significant spend, but in a vacant property there are steps that should be taken around security, access, plumbing, heating and insurance. 

With regard to insurance, insurers must be informed when a property no longer has someone living in it. Most will require that a regular visit is made to check security, etc, to maintain the buildings and contents cover. Should you be living some distance from the property, making this difficult, talk to your chosen estate agent about undertaking this for you.

Clearing the contents from the home of a lost loved one is always hard. This is also something a good estate agent can help with. They will be familiar with local charities that will take large pieces of furniture, local charity shops for small items and clothing, skip hire, cleaning firms, and how to arrange for large items to be collected by the local authority for disposal.

You also need to inform the local authority that the registered occupant of the house has passed away, so that Council Tax records can be updated and payments suspended.

It’s a tough time dealing with the estate of a loved one who has died, but working with the right estate agent can relieve some of the stress associated with this time. 

(Picture used from Humphrey Road, Old Trafford).

Eddie – Friday 16th September 2022.