Something the executor should check is whether the property is registered with the Land Registry. If it is, great, downloading the information from here is simple and straightforward. If not, ownership would have been for many years or the property is in a very rural location then, the ‘Paper Title Deeds’ will need to be located. This is something solicitors can obtain on your behalf.
Probate property fairs very well in the auction room for many reasons. This property type is perfect for the auction route as the speed and sale of the property guarantees peace of mind. It is often the case that beneficiaries are looking to receive their share of the equity swiftly and efficiently.
Often the property isn’t local to the beneficiaries so it can be impractical to sell with an agent local to you.
A large proportion of this type of property need some level of refurbishment. Whether just cosmetically or whether it needs a full refurb, investors are attracted to these properties as there is opportunity to add value, these types of investors are property traders.
By instructing Connect UK Auctions you are ensured a maximum price, will always be achieved, in your chosen timeframe. Auction provides transparency which is a factor to consider, especially if there is more than one beneficiary.
The short answer to this question is No. If a property is suited to auction, expect the price to reflect that. Probate is one of the most suited property to this method of sale for the reasons explained above. When selling at auction a reserve price is always set by the client, the auctioneer cannot accept any bids or pre-auction offers below that figure.
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