Selling a probate property quickly is often a priority for people following the death of a loved one for both practical and emotional reasons; the inherited property may be in need of repair, have a mortgage in arrears, or is simply located far away making it difficult to effectively maintain and manage.
Selling the property before it starts to cost money with insurance, council tax, utility bills, and other running costs is often a sensible idea. It also avoids the risks associated with leaving a property empty for months.
If speed is your ultimate priority then the traditional estate agent route is probably not the right option for you. The process from start to finish takes a minimum of 12 weeks and will cost you between 1-3% in fees; on a property worth £200,000, that is £2,000 – £6,000.
By contrast, property cash buying companies offer a much quicker and simpler process that gets you what you want within a matter of days; cash in your bank from the sale, and the hassle of the inherited property off your hands. They also don’t charge selling fees and some companies, like Hull Cash Buyers, will even go the extra mile and also cover your legal fees upon completion.
How do property cash buying companies work?
Cash buying companies operate in a completely different way to estate agents.
Estate agent’s are essentially middlemen. Their role is to value your property, find potential buyers, and conduct viewings.
Property cash buying companies cut out the middleman; they are the buyer. This means that no banks, estate agents, or other third-parties are involved in the selling process except a solicitor. They have immediate access to funds and are therefore able to move quickly. For example, Hull Cash Buyers will make a same-day offer on a probate property and can exchange within a couple of days.
How do I choose the right home buying company?
Alongside speed of sale, you want to make sure that you get the best price possible for your probate property. There are two types of home buying company to choose from: national and local.
Most local companies will visit your property before they make an offer. This means that they can assess the value of your probate property on a case-by-case basis, taking into account its individual elements, and offer a fair and accurate price for your property.
By contrast, national companies tend to use machine-led algorithms to conduct desktop-only valuations. Their tactic is either: to make a low initial offer that is usually less than a local company; or they will make a high, attractive offer at the start to win the sale but then knock the price down as the process progresses, often making deductions on the day of exchange.
Local companies, like Hull Cash Buyers, also offer a much more personal service than their national counterparts; instead of speaking to lots of different people over the phone, the process tends to be managed by just one or two people. This keeps the process as simple and as quick as possible, and allows you to feel totally in control.
If you live in Hull or East Yorkshire and want to sell your probate property quickly, then call our team on 01482 655346 who will guide you through your selling options. We make a cash offer on every property we see within 24 hours.