Buying a Probate Property: What Every Buyer Should Look Out For
A probate property is a home that is being sold following the death of the owner. The sellers are not the people who lived there. They are the executors named in the will, or the administrators appointed where there is no will. Together they are known as the personal representatives of the estate. These properties can be attractive. They are often priced to sell, there is rarely an onward chain, and the sellers usually want a clean and quick disposal. But they carry risks that an ordinary purchase does not. The people selling may know very little about the house. The paperwork may be old or missing. The building may have been empty for months. This blog looks at the transaction from the buyer's side and sets out what to ask, what to check, and what precautions to take. The Grant of Representation The personal representatives cannot complete a sale until they have the grant of probate (where there is a will) or letters of administration (where there is none). This is the document...
