When someone passes away, their estate often includes a property which must go through probate before it can be sold or transferred. While the probate process is meant to ensure fairness and legal integrity, it can create unexpected complications for waiting heirs.
Inheriting A Probate Property
During the probate process, the property is left empty to assess the distribution of the deceased’s assets. Probate can be a lengthy process, potentially it can take up to a year or even longer depending on how complex the case is. Throughout this time, the probate property is often neglected, often deteriorating and falling into disrepair.
Once probate is complete, the inherited property may need renovations or repairs due to neglect. These additional costs can place a financial and emotional strain on heirs. This can force heirs into seeking loans to complete renovations or potentially consider selling the property.
Selling A Hoarder Probate Property
A probate property in Gwynedd was auctioned with a starting price of £38,000. The house is in a deteriorated state, burdened by excessive clutter and requiring repairs. Due to health and safety risks, estate agents recommended against in-person viewings of the property. Probate homes affected by hoarding typically demand an extensive clearance, deep cleaning and structural restoration before they can occupied. Homes in these conditions are usually marketed at a lower price.
While some may find this a great inheritance, restoring a neglected hoarder home can be a lengthy process, mounting costs of renovations and council tax premiums. Some heirs choose to sell their probate property below market value to expedite the sale and avoid costs.
Struggling To Sell Property?
Many people choose to sell probate properties because they live far away or cannot uphold the costs. Struggling to sell the property, heirs can face financial strain from ongoing management fees and empty home council tax premiums. Every empty property represents a missed opportunity for a family or individual in need of a home.
How PPS Can Help
Probate Property Services handle empty and probate properties. From house clearance to property management, we can give you a peace of mind that the property is safe and secure. Our experienced team will work closely with you to prepare and sell the property. If you think we can help you, please contact us to obtain a bespoke quote.
