
SELLING YOUR PROPERTY
ESTATE AGENT OR AUCTION SALE?
Before we look at the most appropriate form of sale of your property it is important to look at what determines the sale process.
MOTIVATION
Every Sale has its own unique set of circumstances and motivations and it is important that you balance these motivations with the outcome you are looking for.
For instance, sometimes the speed of sale is the most important aspect, so that the beneficiaries can realise their inheritance and the family can move on with their lives after a bereavement. Other times it is to maximise the value of the property and the length of time that the sale can take is less important.
Whichever the motivation, in each instance, the sale of Property is often the major factor in determining the settlement of the deceased persons Estate.
As explained within the Property Section of the Education Centre of the Website, most families do not pass away with enough cash within the Estate to settle the wishes of the Will, therefore the sale of the major asset (property) is essential.
HMRC DELAYS
The speed at which this happens is determined by the choice of sale and more often these days the settlement and distribution of assets and closure of the estate is controlled by HMRC’s approval of value vs sales price achieved etc…
Although some estates are more complex than others, it is not unusual to see a very simple estate that includes a house and some cash and a few personal chattels taking 12-18 months to be settled and closed and asset distributed to beneficiaries.
WHY THE DELAYS?
Delays in the settlement and distribution of assets to beneficiaries can be for many different reasons, but one such reason is often that HMRC need to satisfy themselves that every possible precaution has been taken to maximise the eventual sales price of the property vs the valuation.
A lot of Probate Property is out-dated and therefore this can lower the final sale price achieved, because it does not meet the requirements of modern day family living, therefore consideration has to be made in the cost of updating and renovating by the purchaser.
TRADITIONAL ESTATE AGENT SALES
Most families leave the sales process of their deceased’s property to an Estate Agent.
This is the most common form of sale, but can often cause much stress for the following reasons….

Losing a loved one is an emotionally difficult time and therefore having confidence and trust in the people that are involved in determining the speed and efficiency of the settlement of Probate and distribution of assets within your estate is extremely important.
AUCTION SALES
As mentioned each estate has its own unique motivations and what will determine the route of sale, is what is most important to you and the family.
There are some Auction Houses that have Estate Agent divisions and some Estate Agents that have Auction Divisions, both are worth taking a look at, as they may offer the best option, as both will often offer a dual approach to marketing and selling your property.
There are a number of positive reasons why an Auction sale might be considered, which are covered below:
For more information on Estate Agent, Auction or even Private Sales, please contact us and we can help point you in the right direction