Help! Seller's onward purchase has gone to probate. Should I wait?

enaj2210

Hi, 

I'm after some advice, I'm very close to completion on my first property, but the seller's onward purchase has now gone to probate, as the owner has sadly passed away. She has asked if I could wait but my mortgage offer expires on 23rd June. She did say she would be willing to rent in the interim but has now changed her mind. Is it worth me waiting right up until my offer expiration on the chance that the estate may get released from probate within the 9 weeks (Which I know is being hopeful). The seller has also offered to lower the price of the property, but she hasn't said how much. Has anybody had this situation before? If so, what was the outcome?

Thanks 

verytired11

How much do you want the property?  

UnderOffer

Probate could take months. If she’s not willing to move in to rented then you may need to start looking for a new purchase. 

lookstraightahead

How much does you vendor want to sell? If they now won't move into rented, I would move on. Probate can take months, even years. The house might even be kept by those who inherit it.

Doozergirl

This is your vendors problem.  I don't think they should be making it yours. 

The times I've ended up in probate sales, we've ended up pulling out after 6 and 10 months, respectively.  It's inevitable that someone 'better' pops up at some point.  

I'd be pushing on the vendor to break the chain.  Otherwise, I wouldn't pull out but I would continue looking.   Your vendor is not in a strong position, you get to call all the shots.   If you do find somewhere else, that's the point you're really able to force their hand - if you still want to. 

LAD917

This happened to me as a vendor, and I broke the chain and went to rented. I felt like it was the fair and ethical thing to do.  Your vendor may not be as fair-minded.  There's so much that can go wrong here - don't get yourself wrapped up in this.  Tell the vendor to move to rented, or pull out.

dr0psofjupiter

My family member has bought a house that went into probate. From probate application to receiving it we were shocked to find it only took 3 weeks. Not seen it be that fast before.

AnotherJoe

It could be 3 weeks. Or 30.

Tell your vendor via the EA that you have started looking elsewhere (and start looking elsewhere)

Maybe your vendor will move out but most dont.

ele_91

This has just happened to us, except we were ready to exchange, and there are 8 in the chain, we are second. 

We are looking elsewhere as is the house above us. I wouldn’t withdraw your offer but wouldn’t wait either.