Sell During or After Probate
The simple way to sell your assets
Leave Your Name & Number. Our Agents Will Be In Touch
A simple solution for selling probate property
You can sell your probate property to SellTo. We will make the process as quick and as simple as we can.
When a person passes away, their assets will enter a process known as probate. If you have inherited a property, it doesn’t necessarily mean you can sell it immediately. The property doesn’t legally belong to you until the deceased’s Will has gone through probate. Only once you have been granted probate can you proceed with selling the property. They will also let you know when you can continue with the home sale. Do note that the laws for probate and inherited property vary throughout the UK.
Can a probate property be sold?
Yes, a probate property can be sold, but it requires court approval.
The executor or administrator of the estate must follow the probate process, which includes obtaining the court’s permission to sell the property. This ensures that the sale is conducted legally and that the proceeds are used to pay off any outstanding debts and distributed according to the will or the laws of intestacy. Once the court grants approval, the property can be marketed and sold, with the sale proceeds being managed as part of the overall estate settlement.
Are You Named in the Will as the New Owner?
Many people assume that the property automatically becomes theirs just because they have been named in a Will as a new homeowner. It doesn’t. The deceased’s assets will need to go through probate. Probate ensures that the property really should have the ownership transferred to you. Until probate is complete, people can contest the Will. If their contests are successful, the property may not transfer ownership to you at all.
The only exception to this rule is if you were listed as a joint property owner before the deceased passed away. In that case, probate doesn’t need to be completed. Ownership and the sale rights of the home will transfer to you as soon as you can supply a copy of the deceased’s death certificate to the courts.
What is Probate?
Probate is the legal process through which a deceased person's estate is administered and distributed according to their will or, if no will exists, according to the laws of intestacy.
The probate process involves several key steps:
Validation of the Will
Court Approval: The first step in probate is to submit the deceased’s will to a probate court. The court will examine the will to ensure it is valid and legally binding.
Appointment of Executor: If the will names an executor (a person responsible for managing the estate), the court will officially appoint this person. If no executor is named, the court will appoint an administrator to perform similar duties.
Inventory and Valuation of the Estate
Asset Identification: The executor or administrator must identify and take inventory of all the deceased’s assets. This includes real estate, bank accounts, investments, personal property, and any other assets.
Valuation: The assets must be appraised to determine their value at the time of death. This valuation is crucial for calculating any estate taxes and for the fair distribution of assets.
Debt and Tax Settlement
Debt Payment: The executor is responsible for paying any outstanding debts and obligations of the deceased. This includes bills, loans, and funeral expenses.
Taxes: The estate must settle any applicable taxes, including estate taxes and final income taxes owed by the deceased. The executor handles filing tax returns and making the necessary payments.
Distribution of the Remaining Estate
Beneficiary Distribution: Once all debts and taxes have been paid, the executor distributes the remaining assets to the beneficiaries named in the will. If there is no will, the assets are distributed according to the laws of intestacy, which dictate the heirs based on familial relationships.
Final Accounting: The executor provides a final accounting to the court, detailing all actions taken, expenses paid, and how the assets were distributed. The court reviews and approves this accounting, officially closing the probate process.
Probate ensures that a deceased person’s estate is handled in an orderly and legal manner, protecting the rights of creditors and heirs. While probate can be a time-consuming and complex process, especially for large or complicated estates, it is essential for ensuring that the deceased’s wishes are honoured and their assets are distributed fairly.
How can I Sell my Probate Property Fast?
If you need an extremely fast sale, consider selling to a property buying company such as SellTo.
We buy specialise in quick purchases and can offer the convenience of a fast, no hassle cash transaction.
At SellTo we know how difficult it is to sell a house quickly, which is why we have found a way for homeowners to speed up the process.
We know you have a lot of options for how to sell your inherited property quickly, but we believe our service is the most efficient service you’ll find out there.
Below we highlight why it can make sense to choose us over a traditional estate agent.
SELLTO
For you if speed of sale is important.
- SellTo will buy your home QUICK
- When you need a Fast and secure sale
- Quickly exchange and complete
- No mortgages or estate agents
- No legal fees or sales commission payable
- Hassle and stress-free
WHY CHOOSE SELLTO
You may simply be looking for a quick and secure sale in the least amount of time possible. You may also not wish to deal with estate agents, viewings, mortgages falling through and buyers messing them about. We offer both cash purchase and auction solution. Auctions have evolved considerably in recent years and people like you are now getting amazing results. Here at SellTo, we can get your property listed in days and we ensure all properties that we send to auction get the very best exposure. The beauty of the auction service is that once the hammer falls, the buyer is obliged to complete. Failure to do so results in heavy financial penalties (hence why buyers complete the sale quickly.) So if you are looking for a fast cash sale or quick auction sale, contact us today.
ESTATE AGENT
Could be for you if you want to sell slowly.
- Slow Sale: Averages are 120+ days
- Charge 1-3% of the sale price as commission
- Ongoing mortgage payments whilst you wait
- Ongoing council tax payments whilst you wait
- Costs for legal services
- Costs for property refurbishments
WHY CHOOSE ESTATE AGENT
Selling through traditional estate agents is the most common approach but is often the slowest option available. The entire process can take around six months from the moment the property is listed to completion. Of course, this does depend on the location and the condition of your property. Some estate agents may have great track records that can help get your property sold eventually, but the timeline is unlikely to suit you. Additionally, estate agents typically charge a percentage of the final sale price between 1-3% as their commission, which can equate to quite a substantial fee. But don’t forget to factor in the additional costs like solicitors or any refurbishments required to get the property sold. So not only is it a long process but quite costly too.
Our Service SAVES you in fees and costs
Compare a typical £100k property sale in this table.
Once you total up the costs of sale and time delays; the difference may not be as much as you would expect.
| Estate agent (6-9 months) | SellTo (7-28 days) | |
|---|---|---|
| Original advertised price | £100,000 | N/A |
| Agreed purchase price | £95,000 | £85,000 |
| Estate agent fees | -£2160 (average) | £0.00 |
| Ongoing mortgage payments | -£3000 (6 months average) | £0.00 |
| Solicitors & legal fees | -£700 (average) | £0.00 |
| Renovation, repairs & maintenance | -£1000 (typical) | £0.00 |
| Council tax | -£800 (average) | £0.00 |
| Net price achieved | £84,340 | £85,000 |
How our Cash property buying service works
FAST Cash Sale
Sell in 7-28 Days
BEST Prices Paid
No Estate Agents Fees
ZERO Legal Fees
ZERO Stress
Step 1
Get in Touch
Contact our professional house buying team to discuss your property to receive your offer.
Step 2
Receive your Offer
After an independent valuation, we will make you a free, no-obligation cash offer for your property.
Step 3
Completion Date
If you choose to accept our formal cash offer, you decide the date for sale completion that best suits your needs.
Step 4
Get Paid
On your chosen completion date, the property sale is legally completed and the money is transferred to you.
The Probate Process
What you need to know about Probate.
Do I Need to Apply for Probate?
Whether you need to apply for probate depends on the deceased’s assets and how they were owned. If the deceased owned property or significant assets solely in their name, probate is typically required to transfer ownership legally. However, if assets were jointly owned with a right of survivorship or if they had designated beneficiaries, such as life insurance policies or retirement accounts, probate might not be necessary. Consulting with a legal professional can help determine if applying for probate is necessary in your specific situation.
How to Apply for Probate
To apply for probate, you must first complete and submit a probate application form to the probate registry, along with the original will (if there is one) and the death certificate. You will also need to complete an inheritance tax form, even if no tax is due. After submission, you may be required to swear an oath or make an affirmation that the information provided is accurate. Once the application is reviewed and approved by the probate court, you will receive a grant of probate (or letters of administration if there is no will), which legally authorizes you to manage and distribute the deceased’s estate according to the will or the laws of intestacy. Consulting with a solicitor can help ensure the process is completed correctly.
What if Probate is Contested?
If probate is contested, it means someone is challenging the validity of the will or the appointment of the executor. This can lead to a legal dispute that must be resolved in court. The contesting party must file a formal objection, providing valid reasons such as undue influence, fraud, or lack of testamentary capacity of the deceased when the will was made. The probate process is paused until the dispute is settled. The court will examine the evidence and make a ruling, which can uphold the original will, invalidate it, or result in a different resolution. This process can be complex and time-consuming, often requiring legal representation for all involved parties.
How Long Does Probate Take in the UK?
In the UK, the probate process typically takes between six to twelve months to complete, depending on the complexity of the estate. Straightforward cases, where the estate is small and uncontested, can be resolved more quickly, often within a few months. However, if the estate is large, involves multiple assets, or if there are disputes or complications such as inheritance tax issues or contested wills, the process can take significantly longer, potentially extending beyond a year. The timeline also includes the initial application for the grant of probate, which can take several weeks to a few months to be processed and approved by the probate registry.
How Much Does Probate Cost in the UK?
The cost of probate in the UK varies depending on several factors, including the size and complexity of the estate, whether a solicitor or probate specialist is used, and any additional fees that may arise during the process. Here’s a breakdown of potential costs:
Probate Application Fee
Estates over £5,000: £273
Estates under £5,000: No fee
Solicitor or Probate Specialist Fees
Percentage-Based Fee: Typically 1-5% of the estate’s value
Fixed Fee: Can range from £1,000 to several thousand pounds, depending on the complexity
Hourly Rate: Generally between £150 and £300 per hour
Additional Costs
Inheritance Tax: If applicable, it must be calculated and paid. Rates and thresholds vary.
Property Valuation: Professional valuations can cost between £150 and £1,000, depending on the property.
Other Administrative Costs: Including copies of the grant of probate (£1.50 per copy), and any additional court fees or expenses related to handling the estate.
Overall, while the basic application fee is relatively low, the total cost of probate can vary significantly based on the services required and the estate’s complexity. Consulting with a solicitor or probate specialist can provide a more accurate estimate tailored to your specific situation.