How Long Does It Take to Sell a House in Probate?

A question often asked when dealing with a probate property is "How long does it take to sell a house in probate?"

This article is for anyone who needs to sell a house as part of Probate and is wondering how long that process may take. Or you may be a beneficiary wondering how long it might take to get you inheritance.

If you are the latter and and in need of money, you may want to consider a probate loan,specifically an inheritance advance loan. The loan is offered on the basis of inheritance due and involves no monthly payments as the loan is paid off once probate is finalised.

Selling a Probate property isn't as straightforward as a standard house sale. But how long does it take to sell a house subject to Probate? Here, we will look at what factors typically influence Probate house-selling times, explore the different methods of sale, and how each can impact your overall schedule.

Factors that Impact Probate House Sales

If you are wondering how long does it take to sell a house subject to Probate, the reality is there is no single answer. It can be influenced by a number of things, including which sales method you choose (which we discuss below).

Market Conditions and Desirability: Factors that apply to a typical house sale, such as your local property market, supply and demand, desirability, location etc. all come into play for Probate properties. For example, if the deceased's property is in a prime location (perhaps near a school or close to transport links), you might secure an offer within weeks of listing the property on the market. On the other hand, if the market is slow or if the property is in poor condition, you might not find a willing buyer for months.

Conveyancing Processes: Even if you secure an offer early, the legal conveyancing process will have an impact on timeframes. During this stage, conveyancers investigate the property, review and advise on the terms of any mortgage offers, and negotiate the terms of the sale. The conveyancing process has been known to take as little as 4 weeks but can run into several months if there is a chain involved, there are complications with mortgages, or if any serious issues are uncovered from investigations.

Obtaining Grant of Probate: For Probate properties, whilst you can market the property and even accept offers, you cannot exchange contracts or finalise the sale until a Grant of Probate (or Letters of Administration) has been issued. How long that takes itself can vary depending on the size and complexity of the deceased's estate, any ongoing disputes amongst co-executors or beneficiaries, and general processing times at your local probate registry. GOV.UK states that it usually takes up to 16 weeks to get a Grant of Probate after submitting an application. However, it can take longer in some circumstances, for example if additional information is required.

Other factors that impact timeframes for Probate sales include itemising, valuing and emptying the property of its contents, as well as conducting any improvement works for old or tired properties to make them more marketable.

For more information, see our article: How to manage probate house sale.

Four Common Methods of Selling

There are more ways than one to sell a property – some of which are especially handy if Probate is involved. Let's take a closer look at four common methods below:

Using an Estate Agent

Many people use an estate agent, either a high-street branch or an online platform, to list a property, arrange viewings and handle negotiations. They often have the tools and resources to market widely, a database of potential purchasers actively looking and do not charge upfront fees (with commission usually only payable at completion).

So how long does it take to sell a house using an estate agent? Well first of all, it will take a couple of weeks for them to prepare house plans and take photographs to create the listing. In a strong market where there are lots of enquiries, many estate agents quickly arrange an 'open-house' viewing day for anyone interested. This helps streamline viewings and creates a sense of competition – which can result in multiple offers coming in at once. You could potentially have a sale agreed within weeks, and the conveyancing process wrapped up in 2-3 three months (assuming no Probate delays or conveyancing complexities).

On the other hand, if local property market conditions are not seller-friendly (perhaps because of low demand and oversupply), or the property isn't desirable because of looks or location etc. you might wait months for a decent offer.

For Probate sales, estate agents can be particularly useful if the property is in good condition. Unless purchasers are specifically looking for a project, properties that require a lot of work might not generate the same level of interest or result in low offers.

Selling at Auction

Audiences at auction often involve cash buyers looking for property projects they can turnaround. This method of selling can therefore work well if the Probate property is unconventional, in poor condition, or otherwise might struggle to attract mortgage buyers. Selling at auction is also usually the go-to option for those looking for a fast sale. This is because contracts are exchanged on the day of auction when the hammer falls on a winning bid, making the sale legally binding there and then. You don't have to wait for solicitors to conduct all their investigations and make enquiries in the usual way before exchanging.

But just how long does it take to sell a house using auction? Well, completing a property sale through a traditional auction can take as little as 10-14 weeks from instruction to receiving funds. It can take around 2 weeks to prepare the legal pack and listing. Properties are then entered in a catalogue 4-6 weeks before the auction, giving potential bidders notice and details. If the property sells on the day of the auction, completion then takes place within 28 days.

While this all may sound very appealing, especially if you want a quick sale – there are downsides to selling at auction. A sale is not guaranteed, and most auction houses charge upfront fees to cover their costs. In addition, the final sale price can be unpredictable, and you may end up committed to a sale at less than desired value (unless you set a minimum reserve price).

You may want to read: The pro and cons of selling at a probate property auction.

Cash Buying Companies

There has been an increasing number of specialist companies that offer (or even guarantee) to complete Probate sales quickly in cash. If you are wondering how long it takes to sell a property to a cash buy company, you might be surprised. As long as Probate is granted, this method of selling can mean the whole process is sorted within weeks. Some companies even offer completion within as little as 7 days, with no viewings or preparations needed. However, the speed and certainty usually comes at a cost – with cash buy companies often making below market value offers to factor in associated risks. As an Executor or Administrator, you need to weigh up the speed and certainty with a quick cash offer against potential higher prices attracted by traditional selling methods. Ultimately, you must act in the best interests of the estate and should seek professional advice if unsure. Sometimes, it may be that this method of selling is the only or best option if the property is particularly dilapidated, unmortgageable, or otherwise proving difficult to sell.

Arranging a Private Sale

Occasionally, a friend, neighbour, or even a beneficiary might want to buy the property directly from the estate, cutting out agent / auction fees and marketing time. They may come forward very soon after learning of the death to secure the property and ensure you don't start marketing / listing elsewhere. It is difficult to answer how long does it takes to sell a property through a private sale. You might save weeks on preparing a property for marketing or listing (through estate agents or via auction), but you still have to go through the conveyancing process. That said, if it is to someone who knows the property or feels confident, they may not require the same level of investigations performed by conveyancers (which is often what takes the most time in the conveyancing process). If the private sale has been agreed in cash, this can also help reduce delays associated with obtaining mortgage offers and associated complications.

Need More Support with Selling a House?

Dealing with a Probate sale isn't as straightforward as if it were your own home. Executors and Administrators must ensure decisions made are in the best interests of the estate. You might feel unsure about which method of selling to go with, whether a quick sale is appropriate or necessary in the circumstances, or the repercussions of delays. Here at The Probate Network, we can quickly connect you with specialist Probate advisors that can guide you at every step of the journey. You can also get a probate quote to compare solicitor options.