Buying a probate property

lucyannabell

Hi all

I have put an offer in on a probate house and had it accepted, the mortgage is in the process of going through however the estate agents have told me that because it is a commercial sale (through a probate company) they will not take the property off the market at the point of bid acceptance as would normally be the case. So I am in the disconcerting position of having people still view the property while my offer has already been accepted.

Does anyone know if this is correct?

Many thanks for your help!

bretts

Hi

I think yes it is right, but I know from experience, I am in process of buying a probate property too but in my case I was not told anything and the property has stayed on market ever since even though I kept asking the EA to take it off after offer was accepted and mortgage sorted.

Probate usually takes about 6 to 8 weeks but if there are complications it could take forever to get it. I am happy that atleast your EA told you that its a probate property. House buying is very very stressful process already, and this probate makes it worse. Have you been told when was the probate applied and all those details.

I am quite new to the forum so may be other seniors can help you better and it will help me to better understand the process too but as far as I have researched you better get all these details from EA or vendor solicitor.

All the best.

Bretts

G_M

It is similar to repossessions.

The P Co. has a duty to ensure they get the best price possible for the Beneficiaries. Indeed, they could be sued if a Beneficiary believed they had not done everything possible to maximise the Estate's value.