How long did your probate purchase take?

EndlessStruggle

I'm buying a probate property and wondering how long it is likely to take.

I know it's a bit of a how long is a piece of string question but thought it might be an idea to see how long it took others so I can have a realistic idea of a range of timescales.

Mine is likely to complete very quickly (I bought last year, using same solicitors and my buyers are eager FTBs) so I'll be likely breaking the chain. 

jj_43

has the seller got a grant of probate? from death to grant of probate was six months, eventual sale 1 year.
did you know there is a stamp duty exemption for buying probate property?

EndlessStruggle

As far as I know they are quite early in the process, my solicitor was going to find out where they are in the process.

I didn't know that, thanks I will look into that.

p00hsticks

jj_43 said:

did you know there is a stamp duty exemption for buying probate property?

I've never heard of that and it isn't mentioned on the list of exemptions on gov.uk - can you provide a link to support it please ?

https://www.gov.uk/stamp-duty-land-tax/reliefs-and-exemptions

OP - if the sellers have the grant of probate then it should proceed as quickly (or slowly) as any other sale.

If they've marketed it before obtaining the grant then you can't  exchange / complete until they have that and that can take any time from days or many months to obtain.

EndlessStruggle

Thank you, I don't believe they have the grant.

The house is in the same street as a family member who has said I can stay with them until it's ready so it's not terrible if I do have to sell mine and wait for that one to be ready. 

I found out it was going to be for sale through the grapevine.

I then randomly bumped into the vendor outside the property the following week.

She gave me a viewing there and then so it has been a bizarre way to buy a house for sure! 

propertyhunter

My vendor died during the sale process - died 23 March and received the grant of probate on 29 June 2022. The time it takes is variable and case dependent on many factors (size of estate, number of executors, presence of will, if anyone contests the will).   

martindow

propertyhunter said:

My vendor died during the sale process - died 23 March and received the grant of probate on 29 June 2022. The time it takes is variable and case dependent on many factors (size of estate, number of executors, presence of will, if anyone contests the will).   

And also the speed with which the necessary papers are gathered together.  Some bereaved people find that having this task is helpful to them, others find it difficult to get into a state where they can do anything.

EndlessStruggle

They applied 3-4 weeks ago so things are in motion.

I want the house so I'm happy to wait.

Just wanted a realistic idea of my wait lol.

jj_43

p00hsticks said:

jj_43 said:

did you know there is a stamp duty exemption for buying probate property?

I've never heard of that and it isn't mentioned on the list of exemptions on gov.uk - can you provide a link to support it please ?

https://www.gov.uk/stamp-duty-land-tax/reliefs-and-exemptions

OP - if the sellers have the grant of probate then it should proceed as quickly (or slowly) as any other sale.

If they've marketed it before obtaining the grant then you can't  exchange / complete until they have that and that can take any time from days or many months to obtain.

https://www.gov.uk/hmrc-internal-manuals/stamp-duty-land-tax-manual/sdltm21040

Tiglet2

EndlessStruggle said:

Just wanted a realistic idea of my wait lol.

EndlessStruggle said:

how long is a piece of string 

There you go - you answered your own question!

p00hsticks

jj_43 said:

p00hsticks said:

jj_43 said:

did you know there is a stamp duty exemption for buying probate property?

I've never heard of that and it isn't mentioned on the list of exemptions on gov.uk - can you provide a link to support it please ?

https://www.gov.uk/stamp-duty-land-tax/reliefs-and-exemptions

OP - if the sellers have the grant of probate then it should proceed as quickly (or slowly) as any other sale.

If they've marketed it before obtaining the grant then you can't  exchange / complete until they have that and that can take any time from days or many months to obtain.

https://www.gov.uk/hmrc-internal-manuals/stamp-duty-land-tax-manual/sdltm21040

thanks for the link, but I'm not convinced that it applies in the case here, where we appear to have an individual buying a probate proerty for their personal occupation ?

The link refers to 'property traders' and say that for the transaction to be exempt from SDLT  'the purchase is in the course of a business that consists of purchasing dwellings from the personal representatives of deceased individuals'