The issue of death is still rather taboo, so it’s quite rare that probate comes up in the national press. The current process of granting probate, however, is in quite a perilous state, prompting more people to speak out about their negative experiences – especially when it comes to selling the deceased’s property.
The Times recently carried the story of Zoe Shipley – a granddaughter tasked with applying for probate for her grandmother’s estate. Although she was told the process would take four months – a timeframe she felt was surprisingly long – Zoe experienced a distressing year-long wait to settle the estate.
The delays were blamed on inefficiencies at HM Courts & Tribunals Service – an aspect that prompted the Justice Committee of the House of Commons to launch an inquiry at the end of 2023. MPs have since felt compelled to start a probe into wait times, with those in the industry calling for radical reforms.
STEP – the body of inheritance professionals – says a huge backlog of unprocessed applications are causing delays during a time that many find emotional and stressful. For the executioners or administrators – often family and friends of the deceased - the delays can also lead to financial hardship and extreme worry, especially where property is concerned.
Both the probate article in The Times and another sympathetic feature published on thisismoney.co.uk, detail the impact probate delays can have on property sales.
Speaking to the financial website, Emily Deane - the head of government affairs at STEP – sums up the anguish faced by those who need to dispose of a probate property.
“Bereaved families and charities alike are in financial and emotional limbo waiting for probate to be granted. People are taking out loans to pay for inheritance tax, which is due before probate is granted. Immediate action is needed now.”
Adding to the picture, STEPs evidence submitted to the Justice Committee of the House of Commons contained a worrying statistic - 100% of firms surveyed at the end of 2023 reported clients suffering cancelled house sales due to probate delays.
Probate sales that fall through are a nuance of the timings associated with probate. If there is a property within the estate that needs to be sold, marketing of the dwelling to potential buyers is totally permissible in the early weeks of the probate application process.
The caveat is that contracts of sale can’t be formally exchanged until the grant of probate or the grant of letters of administration have been received. With delays between the death certificate being issued and probate being granted running into months, many executors/administrators find they market a property, find a potential buyer and agree an offer, then have the deal fall through.
The simple fact is most purchasers run out of patience when waiting for an exchange date that is constantly pushed into the future. Others find their mortgage offer expires and they can no longer proceed with the purchase. This leaves the executors/administrators with no choice but to start the property marketing process again from the start, enforcing a delay on when the sale monies are received and any debts settled or loans repaid.
What do probatemove do?
Probate Move offers executors/administrators an alternative. As a professional property buying company, we aren’t purchasing a home to live in ourselves. Therefore we don’t have the same time pressures as an owner-occupier. Additionally, as we buy for cash, we don’t have to worry about a mortgage offer expiring.
Instead, we will make an offer on a probate property and will work to the timescales of the executors/administrators. For Probate Move, it’s no problem if the exchange is delayed by days, weeks or even months. Our offer will continue to stand until probate is granted, however long that takes, subject to contract.
Our service is a weight off the minds of those involved in settling an estate where there is a property to sell. As a specialist probate property buying service, we can also offer our advice to executors/administrators, especially for those who face a more complex estate situation.
Please do get in touch for a free offer for your probate property and for no-obligation guidance.