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Has the probate process left you with a property in poor condition? Mon, 28 Apr 2014 11:46

Have you been left a house or flat by a deceased relative or friend? In normal circumstances, you might simply sell the property in the usual way, to quickly release cash for you and any other heirs. However, if the property is in poor condition, a quick house sale can be difficult to achieve.

 

If the property has been lived in for a long time by someone else, it may have become dated and in need of improvement. The fixtures and fittings may not have been altered for decades, and to make it more attractive to buyers on the open market, you may need to invest significantly in updating the property. The house may not have even been occupied for a while, which can lead to further deterioration.

 

The problem can be worse if you don't live anywhere near the property. A property which is situated a long distance from the beneficiary may be difficult to keep secure, and it doesn't take long for local yobs and vandals to discover empty properties. Nor is a boarded-up house exactly very attractive to buyers. Not being a local may also make it difficult for you to find nearby builders and oversee the necessary work. Moreover, while a property is vacant, you will be responsible for council tax, utility bills, maintenance, security, and insurance payments. These costs can rise quite rapidly if the property takes a considerable time to sell. 

 

You may be under particular pressure to achieve a quick house sale if there are many heirs who need to be satisfied. There are no guarantees of achieving that with an estate agent, especially for a property that requires renovation - the house might still be unsold a year from now, forcing you to drop the price until buyers and developers show enough interest. That's before you consider what may be very expensive fees.

 

For as long as the property is unoccupied, you'll only benefit from very limited cover from the insurance company, which may insist on an inspection every seven days. You might try to avoid this by renting out your property - becoming an 'accidental landlord' - but this can bring its own stresses, including the need to keep the property maintained and comply with health and safety laws.

 

If you're looking for a quick house sale, selling the property to a cash home buyer like Dream House Buyer is often the most convenient and efficient choice. A guaranteed cash offer for your property allows you to move on quickly with your life and relieve yourself of something which may turn into a burden. 



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