Should I sell property or wait for probate to be granted

dewsbury

Hi,
We are family with property of about €1,000,000 to sell in good area of Dublin.
We have initiated probate but this is not likely to be granted for 6 or 9 months or more.
We have no urgent needs for the funds.

QUESTION: Would it be worth our while waiting for probate to be granted in order to achieve a higher
 price??

drunkmonkey

I thought you had to wait until probate is granted before you can sell. I don't think any solicitor would let a buyer progress without it.

dewsbury

drubkmonkey,
You can initiate the sale of the property and exchange contracts before probate granted.
However, you cannot "complete" the deal - i.e. hand over the keys until probate granted.

drunkmonkey

If your happy it won't cause any problems within the family and everyone is in agreement you could certainly put it for sale but I don't think anyone is going to tie themselves into an agreement until it's free to sell. If the house is empty it's no harm have buyers lined up and start viewings.
If it was me i'd wait until everything is cleared up legally especially if it's going to be split between a few people as that's where it can start getting messy. I pulled out of a property as the family had agreed a price, I offered it, then another family member decided that it was worth 3 times as much (that was over a year ago and the property is still for sale and nobody has yet matched my offer).
Have everything as clean as possible for the buyer and don't spend any money on it until everything is agreed as other things might come to light when you go to sell it that may require some cash input from your side.

Dardania

You could stick it on air bnb in the mean time?