Losing a loved one is a challenging experience, and the probate process that follows can often exacerbate the stress. If you are responsible for selling a house that is tied up in probate in Wigan, you may face a complex and confusing set of legal requirements. Therefore, it is crucial to understand the probate process and how long it might take to plan accordingly.
In this article, we will delve into the probate process in Wigan in detail, outlining each step and the typical duration of each stage. Additionally, we will discuss the waiting period you can expect before you can sell a house that is tied up in probate. Finally, we will provide you with valuable tips on how to sell a property in Wigan that is in probate quickly and efficiently.
To begin, we will address the most pressing question for most people dealing with a probate property.
Can you sell a house while going through probate?
Selling a house while going through probate is indeed possible, but only after the executor of the estate has obtained the grant of probate.
These are the steps of the probate process that includes before and after a property can be sold:
Steps of Probate
Identifying the executor of the estate
The probate process starts with identifying the executor of the estate. Usually, this is the person named in the deceased’s will. However, if there is no will, the court will appoint one, which may cause delays.
Gather information and assets
The next step is for the executor to gather information and assets of the deceased, including any properties they owned. This requires reviewing financial records and contacting relevant institutions for information. Again, contacting and awaiting responses from the institutions can cause delays.
Value the estate
Once all assets have been collected, the executor must value the estate. This involves taking into account any debts or taxes owed by the deceased.
Apply for a grant of probate
The final step before a property can be sold is for the executor to apply for a grant of probate. This is a legal document which recognises the executor’s authority in acting on behalf of the estate.
Get property sold
Finally, the property can be sold. The executor can choose to sell on the open market or through a cash house buyer. However, the executor must be sure there are no surviving joint owners or clauses that prevent the sale of the property. Additionally, the executor must ensure they are acting in the best interests of all beneficiaries.
Settle debts and taxes and distribute assets
Once the property has been sold the executor can use the funds to settle any outstanding debts and taxes. Any money remaining must then be distributed amongst the beneficiaries.
How long does probate take in/near Wigan?
The probate process can vary in length, depending on the duration required for each step. This duration, in turn, impacts the overall duration of the probate process. Although probate can sometimes take over a year to complete, it’s possible to finish it in as little as six months, depending on the specific circumstances. It’s important to note that the overall duration of probate includes the entire process, and the time required to sell a house should also be factored into the equation.
How long before I can sell a house in probate?
In Wigan, like other parts of the UK, the probate process typically takes between 6 to 12 months. It’s worth noting, however, that the sale of the house cannot take place until probate has been granted and all the required legal obligations have been met. Once this happens, the process of selling the house can begin.
How long does it take to sell a probate property in Wigan?
Properties in Wigan typically remain on the open market for an average of 116 days, regardless of the reason for selling. Bear in mind that this timeframe is for the traditional route of listing the property with an estate agent and includes hosting multiple viewings and negotiating with potential buyers before a final sale can be reached. Therefore, it’s safe to assume that it would take at least 4 months to sell a probate property in Wigan.
However, there is another option that can significantly reduce the time it takes to sell a probate property in Wigan: selling to cash house buyers like us at WeBuyAnyHome. As cash buyers, we can provide you with a 100% cash offer based solely on the current market value of the property, regardless of its condition or location. Furthermore, we can complete a sale in as little as 7 days, which eliminates further delays and can be of significant benefit.
Selling a probate property in Wigan can be a complex and time-consuming process. With the probate process taking between 6 to 12 months and the additional 4 months required for selling through traditional methods, the entire process can become quite lengthy. However, selling to cash house buyers like WeBuyAnyHome can provide a faster option, with a sale completed in as little as 7 days.
To simplify the process and avoid any delays, get in touch with us now to receive your free cash offer.