Options for insurance for probate house.

lincroft1710

If the house is "dated" and it would be expected that the new owner would update, it is a waste even repainting. Most probate properties need updating to a greater or lesser extent and repainting won't hide this fact nor make the place more saleable or worth more.

WIAWSNB

https://forums.moneysavingexpert.com/discussion/comment/81897662#Comment_81897662

Re the first point, sadly not - the estranged family placed a caveat on the probate application, and 6 months of one-sided negotiation ensued, with probate grant only a few months ago.

But, yes, it's time for her to sit down and do 'math'. It's not as one-sided as I'd presumed. Thanks.

WIAWSNB

https://forums.moneysavingexpert.com/discussion/comment/81897673#Comment_81897673

Is that your opinion, or established fact?

My mil bought a retirement bungalow a few years ago that was very dated - the pale green carpets were the original, very faded, the woodwork yellowed and chipped. Walls were an innocuous off-white, again scuffed and uninspiring.

She was repelled. As were a number of other buyers. We persuaded her to put in a low offer, and to mil's dismay, it was accepted.

She had a floorer install Amtico throughout, and a P&D paint every inch of the place. An an OCD cleaner scrub the loos. That is all it took to make it immaculate, and her dream home. And it really is fab - and we know is worth more than the original asking price.

She got the place for (I'd have to confirm, but this is conservative) £40k less than the asking price, and £10k covered all the work required.

We know - because we spoke to more than one we bumped into - that the other potential buyers were put off by the dated 'decor', especially the aged carpets.

Bonkers.

Are you telling me that, say, a fresh coat of paint on the walls, a pro clean of the carpets - even replacing some if needed, not costly - won't change the overall 'feel' of a property from, "Hmm, it's dated - and someone died here…" to "It's ready to move in to - and then we can make it our own"?

lincroft1710

It is entirely up to your friend. If I was looking at a property which obviously needed updating, fresh paint and new carpets aren't going to disguise the fact and may not be the colours I want and certainly won't persuade me to offer any more

I have looked at hundreds of properties online (mostly bungalows) and the majority need updating and redecoration/ new floor covering, so selling in that state is quite usual

WIAWSNB

https://forums.moneysavingexpert.com/discussion/comment/81897865#Comment_81897865

Absolutely.

Like you, I can see through such issues, even serious ones, and keep an eye on the final outcome.

A lot of folk are not like this, and that's fair enough too.

I have no idea what the house is like, but will hopefully know pretty soon.

Angelica123

https://forums.moneysavingexpert.com/discussion/comment/81897760#Comment_81897760

The best thing to do is to actually get estates in and value it, and see what interest can be generated.

It's ultimately a case of supply and demand. But when I was recently in process of buying a property - the houses that needed a lot of maintenance weren't coming with a huge discount. But I was buying in a popular area to live. Equally family homes, even if dated, will always draw interest. Sone people just want a place that's turnkey ready.

If people are put off probate, it's often because a)probate getting granted can take forever and b) because the seller knows nothing about house (which makes the enquiries phase less productive).

I personally don't see the point of sprucing up the place (unless it's to rectify an issue that would make the place unliveable or unmortageable).

Shadyocuk

If I see a property for sale that has obviously been repainted and new carpets etc , then my first thought is what are they trying to hide. If the place is likely to need a re-wire , new heating system etc then any decorating is just a waste of time and money.

WIAWSNB

https://forums.moneysavingexpert.com/discussion/comment/81898328#Comment_81898328

Yes and no and but.

There is no suggestion it needs either rewiring or a new boiler or anything like that.

From the outside, which is all I've seen, it looks absolutely fine - roof, windows, doors, guttering etc.

Just a fresh lick of paint inside - if it's needed. A new carpet - if it's needed. Enough to not be off-putting, if it currently is.

It has just been described to me as being 'very dated', that's all.

And I know the executor likes the idea of it being sold as lived-in home, and not an empty 'probate' property.