House rental whilst awaiting probate?

ChileanRed

Hi
I'll try to keep this simple 🤔.
Mum went into care home, I had POA for property & finance. Sale agreed on property (STC). Mum unfortunately passed away and I have applied for probate. No IHT to pay and I am executor. Can I rent out the property to the buyers whilst I await grant of probate??
Thanks for any guidance!

Mickey666

I assume you are a beneficiary - are there any other beneficiaries?

ChileanRed

Yes and yes.

JGB1955

Do you want to be a landlord? What if the tenants/buyers decide not to move out/buy? It would be at least another year before you could put the house back on the market with vacant possession....

ChileanRed

I was thinking max 3 mth rental through estate agents with possibly agreements signed on both sides in front of/by solicitor?

Savvy_Sue

You can, but it's not generally recommended: do speak to your solicitor about the hows and the why nots. 

Agree with the 'do you want to be a landlord?' question. Even for a few months, it's not for the fainthearted, you can't NOT meet your legal obligations just because you are hoping to sell the property to the tenants in due course. 

ChileanRed

Thanks. No..I don't want to be a landlord😳 , just want to do everything (legally)possible so as not to lose the sale. They are keen to complete but obviously I can't until I get grant of probate.
Think it may definitely be one for my solicitor🙄.

naedanger

It does not sound worth the risk for three months of rent less costs.
Surely getting a tenant in will increase the risk the sale is lost.

ChileanRed

The tenant is the buyer. They want to move asap.

xylophone

The tenant is the buyer. 

He was renting the property before your mother's death and had agreed to buy it?

ChileanRed

No.
....sale was agreed and they are doing searches etc with a view to moving asap. Property currently empty.