In today’s challenging housing market, purchasing a house may seem nearly impossible due to rising inflation and the cost of living. Properties have become increasingly expensive, making it difficult for first-time buyers to afford a home. However, some buyers opt for run-down properties that require renovation, as they are often sold at lower prices compared to similar houses. Unfortunately, finding such properties is not an easy task. So, where are all the abandoned and empty properties?
According to Habitat for Humanity Great Britain, local authorities in England, Scotland, and Wales own enough empty commercial properties to create over 19,500 homes. The charity, which specializes in renovating disused council-owned properties into affordable housing, revealed at a recent event in London that in 2020, more than 7,000 local authority-owned commercial and business properties remained vacant for 12 months. On average, each council had 18 vacant properties. Experts estimate that by converting office and retail space, these properties could be transformed into more than 16,000 residential units and 3,500 units, respectively.
There are various reasons why properties are left empty. Sometimes, the owner passes away, leaving behind a vacant property. Handling the estate and probate typically falls to a family member who is set to inherit the property. However, there are instances where estates go unclaimed due to the deceased having no known relatives or being estranged from their family.
When it comes to finding probate properties, councils often refer many of these deceased property owners to organizations such as Bona Vacantia. Probate researchers, can conduct thorough research on the deceased to determine if they owned any properties. This is a primary method of finding probate properties, as councils often lack the means and resources to handle numerous deceased estates. Additionally, councils sometimes directly refer cases to organizations like Probate Property Services (PPS), bypassing the need for Bona Vacantia.
At PPS, we specialize in dealing with probate properties. Leaving properties vacant for prolonged periods can lead to a range of issues, including vermin infestation, trespassing, squatting, and property damage. The longer a property remains empty, the more problems and damage it accumulates, which can become costly to rectify, if possible at all.
Once we have contacted the beneficiaries of these estates, we have the right to access the properties and provide full clearance and deep cleaning services. Once the probate process is completed, the house can be put up for auction or listed on the market. This allows families or property developers to rejuvenate the property, transforming it from a dilapidated and empty state. This not only improves the appearance of the surrounding area but also potentially increases the value of neighboring properties. Additionally, it helps alleviate the issues associated with probate and empty properties.
If you are a legal professional or a member of the public sector dealing with vacant properties, PPS is here to help. One of the biggest challenges when it comes to dealing with probate properties is locating heirs who have inherited the property but may be unaware or untraceable. Our expertise in beneficiary tracing addresses this issue. Furthermore, PPS handles the entire administration process, including cleaning, clearance, and ensuring the successful sale of the property. We are the ultimate solution for probate properties.
PPS and our sister companies handle the entire administration process, including cleaning, clearance, and ensuring the successful sale of the property. We are the ultimate solution for probate properties.
