Selling a house

gadget88

We sadly had someone pass away in family how long would it take to sell house and money to go into bank. I believe it’s longer than a normal sale. Anybody had any experience as I had people say as quick as 3 months to aslong as one year. 

Hoenir

Depends on the complexity of the estate. If the executors have full time jobs. Then time maybe limited. Dealing with all the aspects of the deceased's affairs can be extremely time consuming. Property takes time to sell and for the transaction to complete. Time of year of the death can easily add a few months on.  

elsien

Don’t forget time for the estate to go through probate. Which is more likely to be longer rather than shorter. 

Keep_pedalling

Depending on the value of the estate and the marital status of the deceased an IHT return may also be needed before applying for probate. A deceased single divorced person will need the administrators to complete an IHT return if the estate is over £325k a widowed persons estate can be up to twice that before it is required.

Did the deceased have a will in place? If they did it is down to the named executors to deal with, if not the estate is intestate and letters of administration are required and would normally be carried out by the beneficiaries of the estate.

gadget88

Yes they have a will. Still no idea on time frame it was a single person and split between two people 

MWT

gadget88 said:

Yes they have a will. Still no idea on time frame it was a single person and split between two people 

Do you have a rough idea of the value of the property?

gadget88

MWT said:

gadget88 said:

Yes they have a will. Still no idea on time frame it was a single person and split between two people 

Do you have a rough idea of the value of the property?

It’s around 240k