How to Sell Inherited Property

The death of a loved one is a traumatic time for everyone. Not only is there the grief to deal with, but also the funeral arrangements, the paying off of outstanding debts, and of course the inheritance. During such a difficult period, the last thing you want to do is having to deal with liquidating assets, maintaining an additional property or settling monetary disputes. In many ways, the best and simplest solution is to sell the property as quickly and as stress-free as possible so that you can move on. At UK Homebuyers, we understand this, and are at hand to help you make the sale with minimal fuss.

Problems

There are a great many issues when it comes to inheriting a property, and it can be immensely difficult and confusing to even get it on the market, let alone prepare it for sale. In order to be able to put the house up for sale, you will most likely need to apply for a probate that gives you the legal right to deal with inherited elements of the deceased person’s estate. There are many forms and costs associated with this, and it can be particularly confusing when there are more than one beneficiary to a property – who actually has say? What if you can’t agree on the best course of action? If living in it or renting it out isn’t an option, a quick sell is usually the best way to keep all parties happy.

There is also a lot of legal documentation to fill in aside from the probate form; there are inheritance tax forms, solicitor fees, certificates of ownership, etc. This can all make for a daunting task when all you really want to do is sell the property and move on.

Selling an inherited property can also be an incredibly expensive venture. There might be outstanding debts on the property that need to be paid, such as utility bills, unpaid council tax, or empty house insurance. Perhaps the house is old and in need of repairs and redecorating before it is deemed fit for sale, meaning you have to spend more money before you even have a chance of seeing your inheritance. Estate agents will of course want a hefty commission for selling the property, often coming at around 2% or more. And then of course there’s the inheritance tax which, should you have to pay it, can be up to 40% of its sale price!

Finally, there may be additional responsibilities placed on you. What if there are tenants currently living in the property? How much notice do you have to give before selling? Having to deal with this can make the whole thing just seem too much. Thankfully, you don’t have to do this on your own.

The Solution

UK Homebuyers understand the need to deal with these affairs quickly and with as little stress and effort as possible, and are able to help you shoulder the responsibilities that come with selling an inherited property.

We having highly qualified solicitors on hand to help and guide you every step of the way. From applying for probate, to dealing with inheritance tax and outstanding debts, and even disputes between beneficiaries, we can offer you all the help and advice you need surrounding the sale of the property.

Whereas estate agents will tie you to a contract, leaving your house sitting on the market for months at a time, and charge you even if they are unable to sell within the desired time, we at UK Homebuyers will guarantee you a sale, sometimes in a little as 7 days. There are no pre-sale contracts or obligations to accept an offer, and (unlike estate agents) we won’t charge you an extortionate commission. In fact, when it comes to the sale itself, we cover all seller fees from our end, including solicitors, property surveys, and house valuations.

Above all, we promise to make the sale quick and profitable. You won’t have to worry about paying mortgages on the property or how long it’s sitting on the market, and the sale will still be around 85% of the property’s market value. Let UK Homebuyers help you to make the most of your inheritance. If you have any further questions, please do not hesitate to get in touch. We look forward to hearing from you soon.