Selling Inherited Property?

Are you curious to find out what we would offer you?

Have you inherited a house and want to sell it?

First of all, let us start by saying that we’re sorry that you have lost someone close to you.

Selling inherited property following a bereavement of a close family member or friend, can result in in you having to unexpectedly deal with an empty house, often before you have had sufficient time to grieve your recent loss.

Selling a house can be emotional at the best of times, but it can be the biggest challenge whilst trying to come to terms with everything else going on at the same time:

  • Coping with personal loss, emotions and grieving.
  • Obtaining a Medical Certificate of Cause of Death.
  • Registering the death.
  • Contacting loved ones, family and friends to share the sad news.
  • Notifying a very long list of institutions, including Government, HMRC, Passport Office, DLVA GP, banks, lenders, insurers, utility providers and many, many more...
  • Organising funeral arrangements.
  • Dealing with the estate.

Dealing with the estate

Dealing with the estate of someone who is deceased can be a lengthy and stressful process. We would advise that you obtain specialist legal advice to ensure that:

  • All outstanding bills and debt are settled.
  • The Will and Letter of Wishes are carried out properly.
  • The beneficiaries are granted their inheritance, including selling inherited property.
  • Inheritance tax is calculated and paid.
selling inherited property

Selling inherited property can be a costly headache

When a person, or a group of people, inherit a house they often soon discover that owning an empty property comes with a lot of unwelcome cost and headache:

  • Council Tax will start to accrue and will need to be paid (some councils will temporarily put payments on hold for a limited amount of time, but only if you can evidence to them that the property is empty of all furniture and belongings).
  • Water, Gas and Electricity will now be billed to you.
  • You may well need to arrange specialist empty property insurance which is not the same as a standard home insurance policy: it is more expensive that you might imagine and likely requires you to evidence that you visit the property weekly to remain valid.

Are you curious to find out what we would offer you?

Selling inherited property with an estate agent

A great many beneficiaries decide that, rather than have the hassle and cost of running an empty property, they would rather sell their inherited property.

Unfortunately, most people only know one way to sell inherited property: To use a traditional estate agent.

Selling inherited property using a estate agent may mean that you suffer the following:

  • You will need to clear the inherited house of all furniture and other belongings prior to listing it. This will cost both time and money.
  • The vast majority of inherited properties need a significant amount of costly refurbishment work to make them saleable at the best possible price. You may not have £20-35,000 available to you to carry-out this work at this important time. Refurbishments often take several months and builders/tradespeople are not always the easiest people to work with!
  • You will likely need to arrange for surveyor to attend to carry-out an Energy Performance Certificate, which is a legal requirement to advertise a property for sale.
  • Meanwhile, Council Tax, Water, Gas, Electricity, Insurance and other bills will continue to accrue and will need to be paid, in the interim.
  • You will likely have to meet several estate agents to find one that you're impressed with to represent you in selling inherited property.
  • You will need to instruct a solicitor to represent you and handle the legal sale process.

Whilst estate agents of course have their place, selling inherited property via and estate agent will almost always result in the following:

It will TAKE LONGER than you think

As you can imagine, selling inherited property, perhaps one that is is poor condition, is going to take a lot longer than a ‘normal’ property.

There are simply less buyers willing to take-on the cost and work that comes with the majority of empty, inherited houses and they are looking for a bargain.

  • Very often, estate agents overprice their 'valuations' simply to win your signature on their sales contract.​
  • In this case, you won't know until your empty inherited property has been on the market for 3 months with either low offers, or no offers.
  • Allow a further 3-6 months for you and yourr solicitor to complete the legal paperwork.
  • Hopefully, after two asking price reductions, you'll now start to receive offers.​ Just bear in mind that offers seldom come in at the asking price — commonly, offers are considerably lower than your agent advised!
  • Upon accepting an offer, you and your solicitor will get to work, allow another 3-6 months for the legal work to complete.
  • Be prepared to renegotiate the price after the buyer's surveyor has visited. They tend to look for as many faults as they can and buyers will use this to renegotiate the price downwards further.
  • If the sale collapses, as 1 in 3 do, then double or triple the timescale needed.

It will COST MORE than you think

You need to look further than the headline ‘valuation’ that an estate agent initially quotes you:

  • The offer price you ultimately accept is commonly considerably lower than the original estate agent's 'valuation'. Often, multiple-tens of thousands of pounds lower.
  • Expect to have to reduce your agreed price further once the buyer's surveyor has visited and reported back to buyer and their bank.
  • Remember, that all throughout the lengthy sale process it's highly likely that you'll need to pay Council Tax, Water, Gas, Electricity, Insurance and all other associated bills.
  • You'll have to have pay for a house clearance firm to empty the inherited property.
  • You might have spent £thousands or £tens-of-thousands upfront to repair the property to stand a fair chance of selling it.
  • The Estate Agent's fee + VAT will be deduced from your sale price.
  • So too will your Solicitors Fee + VAT (along with all 'legal disbursements' which can run into £hundreds).
  • After all the reductions, repairs, running costs and fees, you will no-doubt feel disappointed about how little ends-up in your bank account after many, many months of headache and stress.

After an extended period of time, usually many months—and sometimes years—you’ might be left scratching your head wondering if there’s a better way to sell an inherited property?

Are you curious to find out what we would offer you?

Selling inherited property with House Buyers Wales

We believe there’s a better way: selling inherited property to House Buyers Wales, but we don’t want you to take just our word for it.

See what our previous sell inherited house customers said about us:

Sell Inherited Property Fast

“Took 3 weeks. Quick, easy, no problems at all.”

— Janet, Aberdare

★★★★★

Estate Agent Failed to Sell House

“Sold in 7 days. No hidden costs. No sales pitch.”

— Anne & David, Newbridge

★★★★★

Our clients who sell inherited property to us enjoy all the benefits of a quick house sale for cash.

WE BUY HOUSES in as little as 7 DAYS

House Buyers Wales will buy your inherited property. We are not estate agents, we are actual buyers.

  • We will buy any property, in any location and in any condition.
  • We can complete the sale within 7-14 days, or whatever timescale suits you best.
  • We are cash property buyers so we don't rely on bank finance, meaning that there's no risk of the sale falling through due to lending/surveys, etc.
  • We instruct—and pay for—an independent, specialist solicitor to handle the legal sale process with minimal effort from you. (By all means, you may use your own solicitor if you prefer.)
  • You will have direct access to your buyers, David & Jason at House Buyers Wales, meaning that we'll be able to support you and be flexible to anything you need throughout the short sale process.
  • We are very experienced property buyers. Our professional reputation is everything. If we say we are going to buy your property, then you can consider it done.

There are NO FEES or HIDDEN COSTS

When selling inherited property to us, you will receive exactly the amount we offer you — there are no fees, no deductions and hidden costs of doing business with us.

  • We don't charge any fees.
  • We will pay your solicitors fees.
  • You won't need to pay for house clearance.
  • The sale will complete quickly, meaning that you won't have all the running costs compared to a traditional estate agent sale: Mortgage, Council Tax, Gas, Electricity, Water, Insurance, etc.
  • The price we say is the price we pay.

Rather than selling inherited property using an estate agent, can you see the benefit of contacting House Buyers Wales to sell your inherited property fast? 

Might a fast inherited house sale suit you too?

Many people choose to sell their property quickly to House Buyers Wales for a Fast and Certain Sale, where we can complete the sale within 7-14 days.

If you might consider selling inherited property for fast cash, then please contact us: