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Does anyone know what this means - Grant of Probate
Brightside300
Posts: 18 Forumite
Hi, this is a bit of a stab in the dark if I’m honest, we are buying a house going through probate and our estate agent sent us this email that the probate solicitor sent to the vendor, I think I may know what this means but if anyone can give me any insight I would be most grateful. We are obviously waiting for the vendor to receive a Grant of Probate.
“Thank you for your email.
As soon as I have a response from our third party, I will notify you as the results that have been found and confirm the next steps with you.
Please note that once we have received the results, I will be writing to the individual companies to obtain balances from the date of death in order to prepare the grant application.
I will be in touch in due course.”
“Thank you for your email.
As soon as I have a response from our third party, I will notify you as the results that have been found and confirm the next steps with you.
Please note that once we have received the results, I will be writing to the individual companies to obtain balances from the date of death in order to prepare the grant application.
I will be in touch in due course.”
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Comments
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The deceaseds estate is in the early stages of being wound up. Until the court grants the probate. No one has to the legal authority to sell the property.0
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somewhat out of context but I would read that as:
the executor is still at the stage of finding out who the deceased owed money to and how much. Only once that is known can the executor proceed with probate in the confidence that they then know how much money the estate's net value is and how much the estate needs to get to cover its outstanding liabilities and what (if anything) will be left for the beneficiaries to inherit.
ie they want to know how much of the money from the sale of the house is going to be needed to be spend on bills and therefore how much will the beneficiaries once all is done and dusted. That may, or may not, decide how "firmly" the vendors stick to a given asking price.0 -
the probate solicitor sent to the vendor,
The solicitor is going to apply for the Grant of Probate so that the vendor has the legal authority to sell the property.
Before he can obtain the Grant, he needs certain information about the deceased's assets (cash and other) at date of death.
The first step in obtaining this has been to make enquiries of the "third party".
He will be advising the vendor once he has this information from the third party as this will enable him to contact the various financial institutions for the information required.0 -
Thank you for your replies, so we are looking at some considerable time then before the grant of probate is obtained by the executor?0
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It could be 2 months, or it could be 20 years.
At this stage it's still far too early to tell.0 -
In other words look for somewhere else0
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Brightside300 wrote: »Hi, this is a bit of a stab in the dark if I’m honest, we are buying a house going through probate and our estate agent sent us this email that the probate solicitor sent to the vendor, I think I may know what this means but if anyone can give me any insight I would be most grateful. We are obviously waiting for the vendor to receive a Grant of Probate.
“Thank you for your email.
As soon as I have a response from our third party, I will notify you as the results that have been found and confirm the next steps with you.
Please note that once we have received the results, I will be writing to the individual companies to obtain balances from the date of death in order to prepare the grant application.
I will be in touch in due course.”
Who is this 3rd party.
They have not even started basic enquires.
Normally you run everything in parallel not wait for one before starting others.
Monitor progress don't spend any money and keep looking.0 -
In your position, I would stop any solicitor work, don't do surveys and keep looking for an alternative property in case the probate work does take a long time. You might find something that moves quicker. But it is difficult to predict.0
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Brightside300 wrote: »Does anyone know what this means”
Yes, it means you could be waiting a very long time to buy this house, that the vendors have quite probably jumped the gun putting it up for sale, that you should start looking elsewhere and in the meantime instruct your solicitor to hold fire on any further work on this purchase and dont spend any other money on it either (mortgage fees, surveys etc)0 -
O.M.G. :eek:
OP's other post, owner died NINE years ago and executors have only just started probate !
OP, just walk away.0
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