Inheriting a property can feel like an unexpected and often unwelcome responsibility, particularly when it arrives alongside grief. For many people, the property is in a different part of the country, needs significant work, or comes with tenants already in place. The instinct is often to resolve it quickly — but the process is less straightforward than it might appear.

Probate comes first

Before a property can be sold, the estate must typically go through probate — the legal process by which a deceased person’s assets are administered and debts settled. If you are the executor of the estate, you will need a Grant of Probate from the Probate Registry before you can sell.

The timeline for probate varies. Simple estates can be resolved in a few months. More complex estates — particularly where there is no will, multiple beneficiaries, inheritance tax is owed, or assets are disputed — can take considerably longer.

Until probate is granted, you cannot legally complete a property sale. You can, however, market the property or accept a conditional offer — a route that some estate agents and direct buyers use to reduce the overall timeline.

What to do with the property in the meantime

Inherited properties are often empty for extended periods during probate, which creates practical risks. An unoccupied property may require different buildings insurance cover. Some mortgage lenders — particularly where a property is mortgaged — have requirements around occupancy. Utility contracts, council tax, and any existing tenancies all continue to run.

It is worth notifying the relevant insurer, local council, and any mortgage lender early in the process, even before probate is granted.

Valuation

For inheritance tax purposes, the property must be valued at the date of death. This is typically done by a RICS-qualified surveyor or estate agent familiar with probate valuations. The figure used should reflect the open market value at that date, not current market conditions.

If the property subsequently sells for a significantly different amount — particularly a higher amount — this can create capital gains tax considerations. Taking advice from a solicitor or accountant before agreeing a sale is worthwhile where valuations are involved.

Your sale options

Estate agent sale. The traditional route — public listing, viewings, offers, and completion typically four to six months after listing. Suitable if you want the widest market and are not constrained by time.

Auction. Can achieve a quick exchange (typically 28 days) but is a public process, and auction properties often sell below market value. Reserve prices are not always achieved.

Direct sale to a property buyer. Firedstone and similar companies can purchase an inherited property directly, often before probate is granted (with completion subject to probate). This avoids the need for public listing, viewings, or dealing with an estate agent during what is often a difficult period. There are no seller fees.

When speed matters more than price

For many beneficiaries, particularly where there are multiple people involved or where ongoing costs are accumulating, a direct sale offers a cleaner resolution than the open market. The price will typically be below full market value, but the savings in time, carrying costs, and stress can make the difference worthwhile.

Firedstone regularly purchases inherited properties across England and Wales, including those with sitting tenants or in poor condition. We can provide a no-obligation offer in principle and explain clearly how the process would work.

This article contains general information only and does not constitute legal, tax, or financial advice. Please consult a qualified solicitor and accountant regarding your specific circumstances.