If you are selling a house in probate, there are several steps to follow and certain factors you should be aware of:
Register the death. During the process of applying for probate, you will need to provide a death certificate. You may also need to provide an original copy of the will.
Get a property valuation. You need to know the value of the property to apply for a Grant of Probate. It is useful to gather valuations from two or three estate agents. You can use the average valuation in your probate application.
Check the property’s titles and deeds. You need to do this when selling any property. This step ensures that you are aware of any restrictions on the property. If you cannot find these digitally through the Land Registry, you should be able to find them in paper title deeds. Paper title deeds are likely to be with the deceased person’s solicitor.
Pay Inheritance Tax. Before probate can be granted, the inheritance tax from the deceased person’s estate must be paid. This can sometimes be costly or unaffordable. A Direct Payment Scheme may allow you to use funds from the estate to pay the tax. Alternatively, an Executor’s loan can help to alleviate any financial stress during this period.
Apply for Grant of Probate. Finally, complete your application for Probate. This will usually incur a fee. The property can be listed on the market and sold. Alternatively, you can also sell the property to cash house buyers We Buy Any Home.
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