Selling A House After
Probate in Bristol
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- Sell In Your Own Timeframe
Navigating what to do with inherited property is never easy
You will often feel upset, alone and confused. Grieving someone very close to you can take several years – and when you throw in the hassle surrounding an inherited property, it can make the process even more challenging.
Navigating a loved one’s estate and the process of selling an inherited property can be a complex and emotionally draining process. Bristol is undoubtedly a sought-after location, but with house sales declining by 25.8% in the city over the past year, you aren’t alone if you are nervous about finding a suitable buyer for your probate property.
Sold.co.uk is here to help.
It is common for inherited properties to be in bad repair, or cluttered with the previous owner’s belongings. In this case, lenders are less likely to offer a mortgage on the house, meaning that selling on the open market isn’t possible. A cash buyer like Sold.co.uk can offer the solution.
You can sell your Bristol probate property to us within 7 days, without any legal fees in every part of the city. From Bedminster to St Pauls, Redcliffe to Southville, and further, you can offload your probate house without stress or expense.
Get in touch with us today for a free, no-obligation valuation on your probate property in Bristol.
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Should I Sell My Probate Property in Bristol?
Bristol is a vibrant and exciting city in the south-west of England. The city has a population of well over 470,000, with thousands of new people moving there every year.
In the past 12 months, house prices in the city have gone up by 8%, although some economists expect this trend to slow down (or go in the opposite direction) in 2024. If you are keen to avoid this, then selling your probate property now might be the best idea.
Alternatively, you may choose to:
- Rent out the house
- Live in it
- Leave it empty
Each option comes with pros and cons. You may want to avoid becoming a landlord to tenants, or you may live far away from Bristol, and don’t want to uproot to the city.
On the other hand, with two major universities in the city, over 10.1% of Bristol’s population is under 25 (including tens of thousands of students in their late teens and early 20s). This may offer a unique opportunity to find tenants for your probate property.
Whatever your circumstances, you should consider all your options. But if you decide that selling a Bristol probate house is the best way forwards, you can rely on Sold.co.uk to make it happen.
How to Navigate the Bristol Probate Process
The Bristol probate process can be complex, with several legal requirements and administrative tasks. In Bristol, specific procedures must be followed to ensure a smooth probate property sale. Let’s explore the key steps involved:
Applying for probate in Bristol
Applying for probate involves gathering all necessary documentation, including the Will and any supporting evidence. The application must be submitted to the Bristol Probate Registry, where it will be processed and verified. Sold.co.uk can assist you in preparing and submitting your probate application, ensuring accuracy and efficiency.
Valuing the probate property
One of the critical steps in the probate process is obtaining an accurate valuation of the property. Our team of property specialists at Sold.co.uk has an in-depth understanding of the Bristol property market and will provide you with a fair and competitive valuation. This valuation will help determine the property’s market value and facilitate the decision-making process during the property sale.
Property marketing and exposure
Successfully selling a Bristol probate property requires strategic marketing and broad exposure to potential buyers. Sold.co.uk’s expert marketing team will ensure your property is showcased on major online portals and targeted to the appropriate audience. Our goal is to maximise interest and secure the best possible offer in a timely manner.
Conducting viewings and negotiations
Managing viewings and negotiations can be time-consuming and emotionally challenging during the probate process. Our dedicated local agents will take care of these aspects for you, ensuring that all viewings are conducted professionally and that negotiations are handled with your best interests in mind.
Completed and transfer of ownership
Once a suitable buyer is found, the sale can proceed to completion. Sold.co.uk will assist with all necessary paperwork and legalities, ensuring a seamless transfer of ownership. Our goal is to make the probate property sale process as stress-free as possible, allowing you to focus on other important matters.
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When should you value a house for probate in Bristol?
When you find yourself in the position of inheriting property from a loved one and are looking for a valuation for probate property in Bristol, it’s essential to obtain a valuation prior to the Grant of Probate. This ensures an accurate estimation of the amount of inheritance tax you should pay.
If you make alterations to the property further down the line – perhaps to tidy it up, or improve the EPC rating – then a new valuation should be carried out. You may have increased the value of the house, and will therefore be able to sell it for a larger sum.
You can contact Sold.co.uk for a free valuation on what we pay for your property in Bristol. If the house is under your control, and you want to offload it quickly, then get in touch with us today.
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Advantages of selling Bristol probate property to a cash buyer
The average time a house in Bristol is currently on the market is 106 days – and if your probate property is in terrible condition, it will take significantly longer than this. Luckily, you can sidestep this long wait by using Sold.co.uk.
Using a cash buyer to offload your probate property in Bristol enables you to unlock several advantages, including:
- Sell within 7 days
- Avoid legal fees or commission on sale
- Guarantee your house goes ahead
- Offload your house in any condition
- 100% of the sale price goes to you
- Find a buyer even if your house is tenanted
Maintaining a probate house can also be tiresome if you do not live in the south-west of England. Travelling back and forth to Bristol is something you may not have time to do, especially if you have a family and career on the other side of the country.
Sold.co.uk is here to help.
You may want to use the funds from your Bristol probate property to kickstart an exciting new chapter somewhere else in the country of world. Sold.co.uk can give you the immediate money to make that happen.
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How long after probate can a property be sold in Bristol?
The sale of your probate property in Bristol (or anywhere else in the country) only becomes possible once the Grant of Probate has been received. From receipt, the beneficiary has the authority to exchange the contracts and complete the sale.
During the waiting period, the prospective beneficiary will typically carry out viewings, accept offers and address other informal matters.
Due to the complexity which accompanies probate properties, many buyers opt to explore and purchase non-probate homes to avoid the lengthy timeframe often imposed when waiting for legal paperwork to be granted. For this reason, selling to a cash buyer is often a good idea for people that inherit a probate property.
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Is a cash buyer the best option for selling a Bristol probate property?
When your Bristol probate property is in awful condition, selling to a cash house buyer is the most obvious option. However, you do have alternatives to choose from.
Using an auction house will also enable you to sell a house in any condition – however, you will have zero influence over the final selling price.
Equally, when you sell on the market, you will often have to reduce your price so much to find a willing buyer, that the sale no longer becomes worth it.
Hundreds of homeowners in Bristol every year decide that selling a probate property to a cash buyer like Sold.co.uk is by far the best solution. Wherever you are in the city: from Bishopston to Filton, Longwell Green to Emersons Green and every neighbourhood in between – you can contact us today for a free, no-obligation cash offer.
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Frequently Asked Questions about Selling A House After Probate in Bristol
What is probate property?
‘Probate property’ is a house that has been left by someone who has passed away. It will either be inherited via the person’s Will, or through the rules of intestacy.
What are the steps of selling my house after probate in Bristol?
- Ensure the house is in sellable condition
- Get a valuation completed
- Find a suitable estate agent or cash house buyer
- Agree terms with a potential buyer
- Complete the sale
Who owns the property after probate is granted in Bristol?
Once the Grant of Probate has been granted, the deceased’s Will determines who owns the property, and the executor will be responsible for assigning ownership.
In instances where the deceased passed as an ‘intestate person’, and there is no Will, the property will fall under the ‘rules of intestacy’, and in most circumstances, their closest living relative will be the beneficiary.
Where the property was owned under a ‘joint tenancy’, the surviving owner will automatically receive ownership of the deceased’s share.
How long does it take to sell a house after probate in Bristol?
After probate has been approved and the property is primed for sale, the average time it takes to find a buyer on the market in Bristol is 106 days. Keep in mind that this figure is merely an average timeframe for Bristol-based estate agencies – and you can sell much faster using Sold.co.uk.
You can sell your probate property to us within 7 days. Get in touch today to find out how.
Can you sell a house before probate in Bristol?
No, before the Grant of Probate has been received, you cannot sell a house – both in Bristol and anywhere else in the country. There are certain actions that you can take during this time, however, such as conducting viewings and accepting offers.
Do I have to sell a house after probate in Bristol?
No. There is no legal requirement to sell your inherited property after probate in Bristol. You may instead choose to keep the house for your own enjoyment or use it as an investment opportunity by renting to tenants.
Can you clear a house during probate in Bristol?
It is generally recommended that you only clear a house after the Grant of Probate is received. This should be left to the beneficiary of the property to sort, as they may wish to keep some of the belongings.
What if the executor does not distribute the estate after probate in the UK?
A new executor can be appointed, if the current one is not carrying out their responsibilities as they should.
Can someone claim against the estate after probate in Bristol?
Yes, you can claim against the estate after probate.
Does probate show the value of estate?
Yes. You will need to get a property valued, as this is important for inheritance tax purposes. You will also need a valuation to confirm that the estate’s value is greater than the £5,000 threshold. If a Bristol house is included in the estate, it will almost certainly go above this figure.
How much does an estate have to be worth to go to probate in Bristol?
Whether there is a requirement for a Grant of Probate will depend on the bank the deceased was with and the estate’s value. Generally, probate is required for estates valued at more than £5,000. In estates where property is included, probate is always required.
Will my house go through probate in Bristol?
When someone passes away, their property must go through the probate process if it is worth more than £5,000 in the UK.
Can you check probate on a property in Bristol?
Yes, you can check Bristol probate on the UK government website.
Paying stamp duty on inherited property in Bristol
When you inherit a house in probate Bristol, you are unlikely to be required to pay any stamp duty. The main tax requirement that you will need to be concerned about is inheritance tax.
When is probate required in Bristol?
Probate is required on estates generally valued at more than £5,000 or if sole ownership or tenancy in common property is included in the estate.
Do probate properties sell for cheaper in Bristol?
Whether a probate property sells for cheaper entirely depends on the condition of the house. If it does not meet modern standards, or is untidy, then it will sell for less money. However, if the house is still in excellent condition and meets all modern standards, it is not necessarily less valuable.
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Read More About Selling a Probate Property in Bristol
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