Chain

Lyncroft

Hello, I'm in probate property that is being sold. Others are handling the sale so I'm looking for somewhere. There's been a cash offer on the property. At what point would I be able to put an offer for somewhere else. I assume my seller will want proof I have the money. Also, is there any reason not to tell a seller my particular situation, eg, waiting for a probate sale?

I want to minimise the risk of paying admin, search fees, etc and the whole thing falling apart. Sorry to be vague - family communications aren't our strong point!

Hoploz

The time to get probate varies a lot so get on top of that ASAP.

G_M

To be clear, you are

a) living in the property owned by the deceased?
b) a Benficiary of the deceased's will
c) relying on the sale, following probate, to fund your purchase?
d) not an Executer?

Probate can take 2 weeks. Or 6 months.

Following probate, sale of the property could take 2 weeks. Or 6 months.

Talk to the Executers. Get a realistic idea of when the sale may complete.

Lyncroft

G_M wrote: »

To be clear, you are

a) living in the property owned by the deceased? Yes
b) a Benficiary of the deceased's will yes
c) relying on the sale, following probate, to fund your purchase? yes
d) not an Executer? yes

Probate can take 2 weeks. Or 6 months. done

Following probate, sale of the property could take 2 weeks. Or 6 months. Offer accepted

Talk to the Executers. Get a realistic idea of when the sale may complete.

I've been told 1/2 months as it's cash but that's putting me under quite a bit of pressure and there's not much on the market.

Do I need to wait for any further developments on the sale before I start making offers of somewhere for me? EG, proof they have the money? My worst case scenario is I can't find somewhere and I find myself turfed out! Am I being unreasonable if I say I want a minimum time? As an aside you don't really know family until you have financial dealings with them!

[Deleted User]

With things in the situation they are, and two months til you have to move out.., personally I'd be looking for a rental property. This will take away the pressure to find a place in two months. You could also widen the area you are looking at perhaps. Even if you found a place to buy tomorrow, its not guaranteed you could move in within two months.

Lyncroft

Thanks for that. I'm feeling a bit miffed at the moment but not sure whether that's misplaced.

I'm getting the feeling I'm going to be turfed out when the buyer has done whatever he has to do. At the moment I'm covering the bills which I have no problem with but I'm considering putting in an offer on a place based on my share of receipts of where I am at the monet. . One of the executors is saying I may as well wait until the place I'm in is sold, rent and then I'll know exactly what cash I have to spend. My own view is sod that, the cash buyer will need to wait until I've sorted my purchase out. Obviously, they're concerned the cash buyer will drop out if they have to wait.

My own thinking is it's like a chain, in that the buyer of where I am at the moment will need to fit in with my purchase as well as his.

What would folk do in my position? I'm the youngest in the family and feel I'm being a bit railroaded here. Not a comfortable place to be. I'd add that I'm covering the bills where I am which I don't have a problem with but were I to move out now it would all have to be reallocated. I'm just getting the feeling it's all being done to fit in with them rather than my needs.

G_M

Without fully understanding the family dynamics, or your legal status within the property, it is hard to comment. But the following may help:

* The sale of the property is not in your hands
* it is the Excuters who 'own' the property (untill they disribute the Estate)
* So the sale is up to them
* I imagine the sale will be on the basis of 'vacant possession' so when the sale completes you will have to leave (if not before)
* the buyer may well insist on you leaving before they agree to Exchange Contracts. I would! Having a random resident in the property who might/might not leave would worry me as a buyer
* you status and rights as occupier are unclear. Whether the Executers can, in fact, evict you depends on what rights you have. Your posts so far give no clues to this.


Having said all that, it seems clear that at some point you will have to leave. It is likely to take you time to find a property to buy, so, given that this sale is progressing, I would make arrangements to live elsewhere temporarily. Family? Friends? Rent somewhere? Put your stuff into store and become a lodger for a while?

Once the property is sold, and you have the inheritance, you will be in a strong position.

Lyncroft

Thanks for the quick reply. I think I've been a bit naive. I've struggled to get firm information about the buyer as the offer is very good and there has been very little other interest. It's as if from the executors point of view if the sale goes ahead then great, if not then I'm still around footing the bills (fair enough) but not moving on with my life. I can't afford to buy without a sale. It's frustrating. The spite my nose part of me says sod you I'm off and you can sort the bills out yourself but the other part says you're doing that just to spite your nose!

I vaguely recollect when probate was granted that one of the executors insist on something which I now assume was that they held the property and could force me out. I thought nothing of it at the time. I just assumed they'd make sure I was sorted - silly me I suppose.

I'm quite okay about leaving. The place is a dump but I'd rather have a place to go to first.

-taff

The cash buyer won't wait till you've found somewhere once contracts are exchanged.
To buy the place yourself you'll have to negotiate with the executors to accept an offer with your share of the sale [if you have one] and arrange yourself a mortgage. The buyer, unless it's someone you know, doesn't have to give you any info if they don't want to.....
It sounds like you#re living rent free at the moment?

And sorry to burst your bubble, but the executors really don't care about your circumstances, their job is to execute the will, which I'm assuming from your comments means that all holdings are being sold to split between inheritors of which you're one.

Lyncroft

Yes living rent free but covering the bills and sorting out various maintenance and administrative issues. It's in a condition where it couldn't be rented out commercially to be honest. It's a reasonable trade off in my opinion. I couldn't afford to buy the property.

I appreciate the executors need to maximise the amount and I'm quite happy to move on. I didn't expect to stay here for ever nor do I want to. I happily agreed to start the ball rolling and getting the property on the market. I should have clarified exactly what would happen. What I mistakenly thought was my position was that I would be in a standard chain, ie, This place would go under offer, I'd find somewhere to buy and it would link together rather than being similar to a tenant and forced out.

There's also quite a bit of family dynamics as alluded to by GM above. I can't go into the specifics but I'm a bit uncomfortable about some of the things that have gone on in the family. People are people I guess. Maybe I need to toughen up!:).

Yes, you're correct on the inheritance.