How to find a list with probate properties for sale in Norwich, United Kingdom?
When someone sadly dies and they don’t leave a will, any property they owned becomes part of the estate and has to go through a process called probate. Once this process is completed, the property becomes available on the market. Probate properties for sale aren’t always on the open market, but there are online companies and local estate agents that handle probate properties for sale.
What is a probate property?
Probate is the legal term for the process any deceased person’s estate has to go through, particularly if there wasn’t a will left that details what to do with that person’s estate. When legal representatives talk about probate property, they are usually referring to the deceased person’s entire estate, not just the physical bricks and mortar that might have been owned by the deceased.
When it comes to selling a probate property, in most cases a Grant of Probate needs to be held by those handling the deceased’s estate, be it the widow/widower or the will’s executor, as this gives them the authority to sell the property. That said, if the spouse or deceased’s partner inherits the property, they are entitled to sell the property before they have received a Grant of Probate.
There is usually more documentation to complete before the property is put on the market. It is also recommended that any furniture that is not wanted by the family is sent to auction, and that the house, and garden, is well presented. It is worth noting that should a property remain empty for a period of more than 30 days, be it a probate property or not, the executors of the deceased’s estate should get vacant property insurance to protect themselves.
Whilst probate properties for sale present purchasers with an opportunity of snapping up a bargain, they may well find that there are issues with the house further down the line. Remember, it is a deceased person’s property, who was probably elderly and therefore the property may not have been as well maintained, nor have modern kitchens, bathrooms or décor.
In addition, there may not be as much information about the property from the executors as they may well not know the details, particularly if the executors are the solicitors handling the estate. It may also be difficult for them to put their hands on some documentation, such as title deeds. Therefore, purchasing a probate property will entail more research than perhaps would be done on a non-probate property.
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