Selling a Probate Property At Auction
As experienced auctioneers with over a century of combined expertise and successful sales, Auction House London can offer sellers guidance when selling a probate property at auction. In this guide, our property experts break down the basics of probate property auctions and the process of selling through auction.
What is a Probate Property?
A probate property refers to any property or asset owned by a person at the time of their death that becomes part of their estate and requires legal processing through the probate system. Probate property is subject to the terms of the person’s will, if they had made one before their passing, or the rules of intestacy in the case of no will being present.
Without a will present, the estate is distributed according to the rules of intestacy instead of their wishes. The rules of intestacy are a set of legal guidelines that determine who inherits property, money, and possessions in the event of a death. These rules are designed to ensure that the estate is passed on to the deceased’s next of kin.
H2: Who Owns a Property During Probate?
During probate, the legal owner of a property depends on how the deceased person held the property and whether they left a will.
If there is a will, the executors named in it are responsible for managing the estate, including the property. While they do not personally own it, they have the legal authority to handle it until it is transferred to the beneficiaries or sold. The property officially remains part of the deceased’s estate until this process is complete.
If there is no will, the property is managed by an administrator, usually the deceased’s next of kin, who must apply for Letters of Administration. The administrator has similar responsibilities to an executor but must distribute the estate according to intestacy laws.
For jointly owned property, ownership depends on how it was held. If the property was owned as joint tenants, it automatically passes to the surviving co-owner outside of probate. However, if it was owned as tenants in common, the deceased’s share forms part of their estate and must go through probate before being distributed.
Can a House Be Sold Before Probate?
A house can be put up for sale before probate is granted in the UK, but there are important factors to consider. While it is not possible to complete the sale without probate, you are allowed to market a probate property and accept offers during this time.
Although you can negotiate terms and agree on a sale price, you cannot exchange contracts or complete the transaction until probate has been granted. Probate gives the executor or administrator the legal authority to transfer ownership of the property, which is essential to legally finalise the sale. As a result, you must make sure potential property buyers are aware of this process as it can affect the timeline of the property sale.
It is also important to be aware that the proceeds from the sale of the probate property will become part of the estate and cannot be distributed to beneficiaries until all legal and tax matters related to the estate are resolved. Executors should ensure that any outstanding debts and obligations of the estate are addressed before distributing funds.
Special considerations may arise if the property is jointly owned. In cases where the surviving owner is not the sole beneficiary, probate may be required to sell the deceased’s share of the property. Additionally, if the property is at risk of losing value, it might be possible to apply for an expedited probate process to avoid delays.
To navigate this process effectively, it’s advisable to consult a solicitor for guidance on legal requirements and best practices. Being transparent with potential buyers about the probate process and its timelines can help avoid complications and delays later in the sale.
How to Sell a Probate Property In The UK?
Selling a probate property involves several legal and administrative steps to ensure that the property is properly transferred to the buyer. To sell a probate property in the UK, you will need to firstly make sure that you have the legal authority to sell the property by obtaining a grant of probate or letters of administration. You may also be subject to paying inheritance tax on the property depending on its value (currently applicable on estates valued over £325,000 as of 2025) as you will have to pay this before selling the property.
There are two popular ways to sell a probate property including through an estate agent or auctions. Depending on your needs, these options both offer pros and cons. If you are a corporate company who has acquired a probate property, then your needs will differ compared to someone who has inherited a property.
What is the Process of Selling a Probate Property?
Establish Whether Probate is Necessary
Before selling a property, it’s important to determine if probate is actually required. In many cases, probate must be granted before the sale can go forward. There are some exceptions to this, such as when a property is jointly owned and automatically transfers to the surviving owner. Checking the property’s title deeds will confirm the legal ownership details.
Apply for Probate
If probate is needed, the executor named in the will must obtain a Grant of Probate or for Letters of Administration if no will exists. This document grants the legal authority to manage and sell the property. The application can be submitted online or through a paper form and generally involves:
- Providing the original will and death certificate.
- Completing inheritance tax forms.
- Paying any applicable inheritance tax.
Assess the Property’s Value
An accurate property valuation is essential for both probate and setting a fair asking price. Valuations can be obtained through:
- Estate agents.
- Property Auction Houses.
- Chartered surveyors, who can provide an official RICS valuation.
- Online valuation tools.
Choose the Best Selling Method
Several options are available for selling a probate property, and the right choice depends on factors such as speed, price, and convenience:
- Traditional Estate Agent – popular option for achieving market value. The process may take longer especially if there is a buyer chain.
- Auction – A good choice for a quick sale, particularly if the property requires renovation or has unique characteristics.
- Cash Buyers – House buying companies and Specialist Auction Houses can purchase probate properties quickly. While this route is more convenient, cash offers tend to be lower than market value.
Prepare the Property for Sale
Most probate properties are sold in their current condition, but making minor improvements can help attract buyers:
- Clearing out belongings.
- Keeping the property clean.
- Completing small repairs.
- Applying fresh paint.
- Obtaining an Energy Performance Certificate (EPC), which is legally required when selling a property in the UK.
Market the Property
Once the property is ready, work with your chosen company to develop attractive property listings. High-quality photographs, accurate floor plans, and well-written descriptions can increase buyer interest.
Property Insurance
Finally, keeping the property insured is essential. The insurance provider should be updated with the new policyholder details. If the property is unoccupied, a specialist vacant property insurance policy might be required, as standard home insurance typically does not cover empty properties beyond 30 days.
Sell Your Probate Property Today
At Auction House London, we recognise that probate property management comes with its own set of challenges, especially when it comes to navigating the intricate process of estate sales. Our experienced team specialises in handling probate issues, ensuring a streamlined auction experience that leads to a successful sale of your property. To learn more about how we can assist you, please contact our property experts today.
For our corporate clients, we provide customised probate services that address the unique complexities involved in selling these properties. We design bespoke solutions for businesses looking to auction probate properties. Reach out to our corporate services team today to discover how we can support your needs.