Putting a property on the market before probate granted

uknick

I know this topic was covered recently, but I don't recall seeing this asked.

What paperwork does the estate agent and/or conveyancing solicitor need to prove the executor can market the property?  Usually, they need proof of ownership or right to sell, but until probate is granted that won't be available.  Do they ask for a copy of the will proving who the executor is?

Dave_5150

I don't recall needing any proof although I did it make it clear to all the estate agent's that it was a probate sale.

I didn't want responsibility for an unoccupied property for longer than necessary. So I instructed an agent the day after applying for probate, as I expected selling through to completion was unlikely within the 8 week timescale for probate.

On reflection this wasn't a great idea. The property sold for above the asking price within a few days whilst probate dragged out for 14 weeks. By the end I was under pressure from every direction to expedite probate with no mechanism to do so.

In the end it worked out OK, and we exchanged and completed within a week of getting the probate paperwork. However it was incredibly stressful once the expected 8 week period for probate had passed.

SevenOfNine

We did this 3 times, "for sale subject to probate". Estate agents didn't ask for proof that we could market them. The first probate was granted roughly the same time as buyer had searches completed & mortgage sorted, so timing was just lucky perhaps, no nagging on his part or waiting on ours.

2nd time a developer & his daughter bought the property, no mortgage & they weren't in a rush, probate wasn't long & they were ready.

3rd time, same developer bought this one as well, no mortgage & I don't think he even bothered to undertake some of the searches, probate moved like lightening, whole process was so fast it made my head spin, something like 10 weeks from date of death to completion! 

I think a lot depends on who is buying the house, mortgage free developer paying pretty much asking price, only wanting personal stuff removed (no. 2 & 3 were elderly with ancient furniture that we wouldn't have been able to give away), was perfect for us.

Flugelhorn

I found it less stressful to not put it on the market until I had notification that the probate would only be me with me shortly. estate agent didn't ask for proof though and solicitor only asked for it fairly late on in the process (though they knew it had been granted)

Mojisola

uknick said:

What paperwork does the estate agent and/or conveyancing solicitor need to prove the executor can market the property?  Usually, they need proof of ownership or right to sell, but until probate is granted that won't be available.  Do they ask for a copy of the will proving who the executor is?

Ours asked to see the will and for me to prove my identity as the named executor.

getmore4less

Power to sell comes from the will.

In practice if you can let the EA in they will market, 

uknick

Thanks for the answers.  Those of you that didn't need to show evidence, was that before 2017?  I believe things should have changed when the Anti Money Laundering rules came in. 

TonyMMM

I've just done this ....in our case the agent wanted confirmation that probate had been applied for before they would market it, but I expect each has their own policy on it.

Flugelhorn

uknick said:

Thanks for the answers.  Those of you that didn't need to show evidence, was that before 2017?  I believe things should have changed when the Anti Money Laundering rules came in. 

no it was 2018 - I actually scanned and sent a copy of the probate to the EA, they hadn't asked but thought they might want some proof that I had the right to sell the property.

I might be being dim about this as AML is a total mystery to me but what does it have to do with an executor selling a property? 

uknick

Flugelhorn said:

uknick said:

Thanks for the answers.  Those of you that didn't need to show evidence, was that before 2017?  I believe things should have changed when the Anti Money Laundering rules came in. 

no it was 2018 - I actually scanned and sent a copy of the probate to the EA, they hadn't asked but thought they might want some proof that I had the right to sell the property.

I might be being dim about this as AML is a total mystery to me but what does it have to do with an executor selling a property? 

The AML rules want to know where the cash for transactions comes from, i.e., is it a legal source and where it's going to.

It is possible for somebody to market and sell a property they don't actually own, especially if they say they're the executor of an estate.  It wouldn't take much to create a will and use this to sell a house if the EA and solicitor didn't do their due diligence and check the right to sell by waiting for the probate approval.  In the same way, the buyer's source of funds should be checked to see they're from a legal source.

Dave_5150

uknick said:

Thanks for the answers.  Those of you that didn't need to show evidence, was that before 2017?  I believe things should have changed when the Anti Money Laundering rules came in. 

Mine was early in February this year