Many people may find probate daunting due to its complexity. There will be many questions and subtle variations in each scenario. “When can I sell the deceased’s property?” is often asked, so we have outlined the process in this blog.
What is Probate?
Let’s start by talking about what probate is and why. The process of handling someone’s estate, their money, possessions, and property, after they die, is known as probate. Before executors can access the deceased’s finances, pay off debts, or sell assets, a grant of probate is necessary. It is crucial to remember that the document is a grant of letters of administration in the absence of a valid will. Despite having distinct names, the two items essentially serve the same function and have the same legal definition. If you’re unfamiliar with the legal process, you can read a more detailed explanation in our guide on what probate is and how it works.
Official guidance on applying for probate is available from the UK Government website.
If there is a legitimate will, it should list all beneficiaries and specify how the estate is to be divided. In the absence of a will, the distribution of the estate will be decided by the rules of intestacy.
Can I Sell a House While Waiting For Probate?
If necessary, the executor of the will is designated to sell the property and settle any related debts. Beneficiaries receive the assets after this is completed. Executors’ desire to sell the property quickly without waiting for a grant of probate seems sensible, but is this feasible?
While you wait for the grant of probate, you might put a property up for sale. But until the grant of probate is granted, a sale cannot be finalised. Months may pass before this occurs, which could cause issues for both the buyer and the seller.
You can exchange contracts with a “delayed completion” clause, subject to the Grant of Probate being issued. This provides the buyer and seller with greater security while waiting for the paperwork.
Executor Responsibilities
It makes sense to list a house for sale before probate is granted, but the transaction won’t proceed until it is issued, as selling a property can be a drawn-out process. As an executor, your first task should be to ascertain the property’s worth, the price you anticipate receiving when you sell it, and any outstanding obligations that must be paid off following the sale. All beneficiaries should be kept informed throughout the process so they are aware of what to anticipate and a general timeline. You can find a full breakdown of legal obligations in our article on executor responsibilities during probate.
To ensure you get an accurate average value, you should have the property valued three times before advertising it for sale. These should ideally be formal valuations from RICS-qualified surveyors or experienced agents who understand “Red Book” standards, rather than just casual market appraisals. Before the property is listed, all necessary repairs should be completed as soon as possible. This could be as easy as giving the garden a little TLC, decorating, or a thorough cleaning.
For professional probate advice, contact Probate a Will on 0203 9859554.
