Top of the chain have pulled out of another house!!

charlotteo1988

lookstraightahead said:

charlotteo1988 said:

MysteryMe said:

What are the circumstances that make this new house having no upward chain.

People who lived there died. Children were left it in the will. No private needed. They are selling it. 

We decided to just go with it. Offer was accepted 15k under asking price. 

Sounds great - the more fickle people you can take out of a transaction the better 😃

I meant no probate needed not private lol. 

So much better that it’s literally just us and our buyers. Already done so much this past 24 hours well less than that actually. Searches were paid and requested for this morning. Done all initial paperwork for solicitors and mortgage company have new address to book valuation. 

Just waiting for contract pack but I’d say that won’t be sent until after new year I think. 

martindow

charlotteo1988 said::

I meant no probate needed not private lol.

Why won't probate be needed?  Possibly it has already been obtained, but I don't think the executors will be able to sell the house and distribute the proceeds without it.

babyblade41

martindow said:

charlotteo1988 said::

I meant no probate needed not private lol.

Why won't probate be needed?  Possibly it has already been obtained, but I don't think the executors will be able to sell the house and distribute the proceeds without it.

If IHT is due on the estate and has been paid then they can sell the property if no CGT has been accrued 

martindow

babyblade41 said:

martindow said:

charlotteo1988 said::

I meant no probate needed not private lol.

Why won't probate be needed?  Possibly it has already been obtained, but I don't think the executors will be able to sell the house and distribute the proceeds without it.

If IHT is due on the estate and has been paid then they can sell the property if no CGT has been accrued 

Wouldn't that imply that probate had been granted?  I thought that probate should be obtained for the estate of anyone who has died.

lookstraightahead

martindow said:

charlotteo1988 said::

I meant no probate needed not private lol.

Why won't probate be needed?  Possibly it has already been obtained, but I don't think the executors will be able to sell the house and distribute the proceeds without it.

Sounds like it's already been done. We did my MIL house very quickly.

babyblade41

martindow said:

babyblade41 said:

martindow said:

charlotteo1988 said::

I meant no probate needed not private lol.

Why won't probate be needed?  Possibly it has already been obtained, but I don't think the executors will be able to sell the house and distribute the proceeds without it.

If IHT is due on the estate and has been paid then they can sell the property if no CGT has been accrued 

Wouldn't that imply that probate had been granted?  I thought that probate should be obtained for the estate of anyone who has died.

In our case the solicitor approved the sale  after sending the IHT forms back even though the estate hadn't been settled but all HMRC taxes  were paid . We put the house up for sale whilst probate went through and all monies went into the estate . We just liquified the asset 

UnderOffer

@charlotteo1988 being nosey and this answer is probably no, but did you get any feedback from your vendors when you pulled out? I’m sure the EA understood why.

charlotteo1988

martindow said:

charlotteo1988 said::

I meant no probate needed not private lol.

Why won't probate be needed?  Possibly it has already been obtained, but I don't think the executors will be able to sell the house and distribute the proceeds without it.

I don’t think it’s needed as the house was left in their name. But it was also 9 months since the parents passed so may of already got probate but when asked I swear she said it’s not needed. 

charlotteo1988

@UnderOffer I’ve not heard from the vendor or estate agents. The vendor Doesn’t have internet so I wasn’t expecting to hear from her but I was expecting an acknowledgment at least from the estate agent but nothing .

badger09

charlotteo1988 said:

martindow said:

charlotteo1988 said::

I meant no probate needed not private lol.

Why won't probate be needed?  Possibly it has already been obtained, but I don't think the executors will be able to sell the house and distribute the proceeds without it.

I don’t think it’s needed as the house was left in their name. But it was also 9 months since the parents passed so may of already got probate but when asked I swear she said it’s not needed. 

Who is 'she' who said Probate is not needed? It is easy for beneficiaries to misunderstand the legal process. 

So PLEASE get confirmation that Probate has been granted, or alternatively, a clear explanation of why it is not thought necessary. You should do this before you burn your bridges on the other property IMHO.