Probate Property

A probate property is typically the residential house/home of someone that has passed away, and left it to a family member(s) or friend in their will.

In the most common instance, properties are often left to siblings and grandchildren who are left to decide whether to rent the property to gain a monthly income or sell it, in order to release their share now. With the latter, a quick sale is often their preference, and as such, they are willing to accept an offer that's lower than the market value.

Probate Property CASE STUDY:

We recently were offered a probate property with an open market value of £250,000. The property required a small cosmetic "make-over" which cost £15,000 and then the property would be worth in the region of £325,000. Instead we sold the property on to another investor and netted a £15,000 Finders Fee.