Written by Alison Owens, Associate Director of DOMVS Estate Agents in Wareham
Probate House Sales – Dispelling the Myths
As estate agents, we hear lots of assumptions regarding probate house sales, and many of these are simply untrue. Here are our top three, regularly-asked questions, along with our responses to help dispel the myths of selling a probate house:
1. Is a probate house sale more complicated?
2. Will a probate house sell for less money?
3. Does it take longer to sell a probate house?
Is a Probate House Sale More Complicated?
A probate house sale will not be more complicated if you have the right representation. Working with an estate agent, who understands the protocol of probate, will ensure the process is as smooth as possible. When dealing with the estate of someone who has died, it is necessary to obtain a grant of probate in order to complete a sale, but that doesn’t mean the sales process can’t start as soon as the executor confirms their legal rights and instructs an agent. If you’re thinking of selling, there’s more information about how to successfully sell a probate property with DOMVS, on our website here.
In our experience as estate agents, selling a probate house is often less complicated. In most cases, a probate house will be at the top of the chain, making the sales progression much easier to conclude. Also, more often than not, the property will be empty, so when it comes to booking viewings, it’s much easier to arrange access. Finally, when it comes to discussing the fixtures and fittings, the negotiations can be easier as it saves the executor having to empty the property of white goods and furniture on completion.
Will a Probate House Sell for Less Money?
Some people wrongly assume that a probate house will sell for less money. As it happens, the marketing approach is exactly the same as a non-probate sale, and so there’s absolutely no reason why the same price can’t be achieved. The myth started because a probate house could’ve been left behind by someone who hasn’t been able to stay on top of the upkeep of their home, due to, for example, old age. But that doesn’t make it any less attractive. Contrary to popular belief that unmodernised houses aren’t as appealing, we have found that buyers are often more willing to pay a premium for a property they can make their own. In truth, buyers don’t want to pay for someone else’s taste and in many cases prefer a blank canvas for their next home. As long as there aren’t any structural issues, which can affect the price, then properties needing superficial improvements will always be in high demand in the market.
Does it take Longer to Sell a Probate House?
Aside from needing a grant of probate to sell a house, the process is straightforward and should never take longer than a non-probate sale. As mentioned above, the fewer properties in a chain, the quicker the conveyancing process can be, so if anything, it can be quicker. If speed is important however, we would always discuss the benefits of property auctions, which can be as effective as traditional sales methods and some executors opt for this way of finding a buyer, to ensure a sale can complete by a particular date.
If you’re currently in the process of selling a probate house and would like the advice from a well-versed estate agent, with plenty of experience in this area, then our teams are always available for an informal, no-obligation chat. Alternatively, to get the process started, find out how much the property is worth via our instant valuation tool. We promise you’ll get the same valuation whether it’s a probate property or not!
Read our other blog for a further, more in-depth insight on probate valuations.
