Tactics for selling probate properties
The responsibility of dealing with a probate property following the loss of a loved one can be an overwhelming and confusing experience. Probate is the legal process of settling the estate of a deceased person, which can often be lengthy. While awaiting the Grant of Probate to be obtained a property can sit dormant for a number of months. In such cases, an already outdated property can soon start to appear neglected and unloved. If this period is over the winter the property can become damp and cold which can trigger further problems with damp and mold. If the unoccupied period is through the warmer months, the garden can become over grown and showing that the property is obviously empty and therefore more susceptible to burglaries, anti social behavior and squatters. Whilst these are problems often encountered by loved ones through the probate process, the good news is that these problems are all avoidable and ones which VMR Home Staging can assist you with.
My advice is to use the time awaiting the Grant of Probate effectively. Use this opportunity to bring the property up to date while at the same time adding value to it. Such a tactic will put you in a strong position when the Grant of Probate is issued. You will be able to place the property onto the market, displaying its full potential to the widest range of buyers as possible. This will increase the chances of not only selling the property for the highest price possible, but also in the shortest amount of time, allowing you to move on, emotionally and financially in your own life.
The process of selling a probate property often differs from that of a regular house sale. There is often a powerful mixture of emotions and the requirement to complete a successful sale. On many occasions a probate property is in need of cleaning, decluttering and modernising. It would be a shame for the property of a loved one to fall into the hands of somebody who sees the opportunity to secure a sale for a ‘cheeky’ offer. Such opportunist buyers often purchase the probate property at a ‘knock-down’ price and then make the necessary improvements before re-selling the property for a profit. Whilst such a scenario may appeal as a ‘quick sale’, in reality investing some small amounts of money in terms of de-cluttering and staging can reap much better rewards.
VMR Home Staging can offer you a whole range of services including general advice in how to stage the property for sale, improving the curb appeal of the property, de-cluttering, hands on refurbishing and also assistance with viewings and open house days. A well-presented property will appeal to a far wider group of potential homebuyers than limiting yourself to investors or developers who tend not to like to pay full price for a property, especially if it requires work. One of the secrets for staging a probate property is to create a contemporary and comfortable interior, allowing prospective buyers to picture themselves living in the property. Creating a contemporary theme does not need to be expensive. Additional or soft furnishings can be rented. The appearance of a lived in and loved home will make it less likely to appear as a probate property therefore spending less time on the property market and achieving a higher sale price. If you find yourself in the position where you need to sell a probate property please contact me at VMR Home Staging for a chat and a free no obligation quotation.