Statistics show that about 70% of home sellers find the process draining. This can get even more stressful if it’s probate property. The probate application alone could take weeks and even years if there are complications with other beneficiaries or paperwork.
Home sellers don’t generally want to deal with probate complications and so they come to you. If a client has come to you for help and you’re looking for suitable options, this blog post has some excellent choices for you.
We’ll cover each method in detail so you can make an informed decision.
Without further ado, let’s get started!
Methods of Selling a Probate Property in the UK
Here are three great ways to help you sell a probate property.
Through Estate Agents
This is an excellent traditional method that offers the best possible price. However, there can be agent fees of up to £5,640 (depending on property value), not forgetting house bills amounting to £7,479, which could significantly reduce the agreed sale price by about 10%.
In addition, this option doesn’t offer any guarantees. Success rates are about 51% since sales could fall through. Potential buyers may also change their minds at the last minute.
Timeline-wise, it could take anywhere from 3 to 9 months or longer to sell a property. The process also involves an outdated and protracted legal conveyancing system that on average will take over 100 days to complete.
Auctions can be an ideal marketplace for probate properties because they offer transparent sales. They’re also much quicker than real estate agents because they take about 28 days to complete once it’s auctioned. They also don’t need sellers to do any repairs and can be sold as they are.
However, this method has several drawbacks.
For starters, auction success rates are about 78%, meaning there are no guarantees the property sale will go through. Also, buyers have the right to ask for surveys and viewings, which can be at inconvenient times.
Since the property is sold to the highest bidder, the price remains unknown and could go either way, i.e., higher, or lower than the asking price. It also binds the sellers to a contract and comes with legal and auction fees.
The Proffered Way
If speed and certainty is what you’re looking for, then Proffered is your best option. We guarantee sales at near the market value. No deals falling through last minute or nasty surprises in the end.
Also, we’ll eliminate any fees for you, which could otherwise drive the final sale value down.
And the best part is that this entire process could take as little as 7 days.
We aren’t even looking for you to decide to use us straight away. All we suggest initially is that you have us partnered with you, in case you and your client would like to utilise our services at any point throughout the process.
Although some methods quote high prices, it’s important to note that they also come with high fees and take longer to sell. They also don’t guarantee sales, meaning you could lose a lot of time and money when they fall through.
If you’re looking for a stress-free yet speedy option that guarantees a sale, Proffered is your best choice. Contact us today if you would like to have a chat with a member of our team. We’d love to talk with you.