children of deceased is vendor

F37A

Hi

Are there any complications or delays with this scenario. Where the person living there has died and their children are selling? 

Thanks

GDB2222

F37A said:

Hi

Are there any complications or delays with this scenario. Where the person living there has died and their children are selling? 

Thanks

Do they have probate?

canaldumidi

If they already have probate, and assuming the children are the Executors/Administrators, fine.

If no or no, it could become complicated and drag on.....

Thrugelmir

If the vendor has died. Then highly likely that the children are the legally appointed executors of the estate. 

F37A

GDB2222 said:

F37A said:

Hi

Are there any complications or delays with this scenario. Where the person living there has died and their children are selling? 

Thanks

Do they have probate?

Oh no its not one of those is it. Ok I need to find out. I jumped at property as was vacant.

daivid

As I see it if all legalities are in order and the vendors sensible it should progress quicker; there is no onward chain and there are cost motivations to complete the sale e.g. avoiding further council tax, maintenance and insurance. If the vendor hasn't fully decided on selling, or two or more children are disagreeing then the process could become protracted or even stop completely. My inexpert hunch is generally probate properties complete quickly once a price is agreed, my house purchase certainly did.    

F37A

daivid said:

As I see it if all legalities are in order and the vendors sensible it should progress quicker; there is no onward chain and there are cost motivations to complete the sale e.g. avoiding further council tax, maintenance and insurance. If the vendor hasn't fully decided on selling, or two or more children are disagreeing then the process could become protracted or even stop completely. My inexpert hunch is generally probate properties complete quickly once a price is agreed, my house purchase certainly did.    

When you say legalities in order - is this only that they have grant of probate or something else as well? I've already been taken for a ride by a seller and then an agent which has been very costly. It's another gamble it seems

Slithery

How complex is the estate of the deceased? Probate can take either weeks or years depending on what needs finalising...

F37A

Slithery said:

How complex is the estate of the deceased? Probate can take either weeks or years depending on what needs finalising...

I'll ask the questions about this tomorrow. Starting with grant of probate

badger09

F37A said:

daivid said:

As I see it if all legalities are in order and the vendors sensible it should progress quicker; there is no onward chain and there are cost motivations to complete the sale e.g. avoiding further council tax, maintenance and insurance. If the vendor hasn't fully decided on selling, or two or more children are disagreeing then the process could become protracted or even stop completely. My inexpert hunch is generally probate properties complete quickly once a price is agreed, my house purchase certainly did.    

When you say legalities in order - is this only that they have grant of probate or something else as well? I've already been taken for a ride by a seller and then an agent which has been very costly. It's another gamble it seems

Once Probate has been granted there are no other legalities, or rather, no additional legalities. 

What you might find is that the executors answer ‘not known’ to some of the Property Information Form questions. This can lengthen the enquiries stage.  Though if executors are deceased’s children, they will hopefully know most if the answers.  

MalMonroe

My ex and I bought a house, many years ago, from the family of a woman who had died. We had no problems whatsoever and to be honest, didn't expect there to be any (young and foolish maybe). The only problems we did have were that the whole place needed gutting and renovating inside but we knew that before we took it on and were able to buy it at a very reasonable price since the family weren't, fortunately for us, desperate for money.

Sadly it seems that these days there can be problems with any property purchase. I wouldn't be put off by the fact that the deceased's children are selling. I just think the national housing market right now seems to be in a bit of a mess and problems can arise with any house purchase. You only have to look at this forum to see that.