Is selling inherited property for cash a good idea?

Many executors are unaware of the efficiency and value that cash house buyers can provide for people navigating the property inheritance process. For many, it can be one of the most effective ways to sell quickly and release equity tied up in the house, especially needed if the estate has unsettled debts.

The advantage? Companies like The Property Buying Company provide a fully hands off process, competitive offers and complete guidance from start to finish.

If you’re handling an inherited property and wondering “Can I sell this house for cash?” - reputable cash buyers, like us, offering a streamlined sale process to help you sell quickly and with minimal hassle.

In this article, we’ll cover everything you need to know about selling an inherited property to a cash house buying service.

What is a property cash buyer?

Property cash buyers, like ourselves, are companies in the residential housing sector that have the funds readily available to buy houses for cash, which enables us to purchase inherited property outright without needing a mortgage or the sale of another property first.

Cash offers can be especially appealing when dealing with inherited properties, as it bypasses many of the common obstacles in the open market process, leading to sales in as little as 7 days.

We are a specialist property cash buyer with access to our own funds and a multi-million pound cash purchasing facility, allowing us to buy properties of any price or condition.

As members of The Property Ombudsman and founding members of the National Association of Property Buyers, we are a trusted and transparent choice for those seeking a reputable cash sale.

While it’s possible to find property buyers on the open market through estate agents the chances of finding one with immediate funds are slim – a key reason why property buying companies have grown in popularity. 

For a reliable and fast cash probate property sale, consider an experienced and excellently rated property cash buyer like The Property Buying Company.

What happens when you sell an inherited property with us?

When selling an inherited property to The Property Buying Company, you receive a guaranteed offer from a trusted, established brand. Although this sale will usually be between 10% to 20% below market value, you benefit from a  secure cash offer that minimises the risk of the sale falling through – reducing the chances from 33% on the open market to just 1%.

Choosing a cash sale means you may receive less than through an estate agent, but you gain a level of unmatched certainty and efficiency. Our service is designed to work on a timeline that suits you and the estate, allowing you to complete the sale in as little as 7 days or at a pace that fits your needs.

Our ability to move quickly comes from over 13 years of growth and experience, with a dedicated team of over 40 professionals nationwide in marketing, sales acquisitions, customer service and sales progression. 

We also work with a panel of expert solicitors who specialise in probate properties, speeding the conveyancing process to ensure a smooth and efficient sale.

How we buy inherited property

Unlike many property cash buyers, we have specially tailored our services for those selling inherited properties, making the process as straightforward and efficient as possible. Our approach allows you to sell in as little as 7 days, providing a hassle-free solution in often complicated situations.

Here’s a look at our streamlined inherited property buying process:

Is selling an inherited property for cash a good idea?

Selling an inherited property for cash has many advantages, but it’s not always the best solution for every property. While selling to a property cash buyer can be quick and efficient, there are times when selling through an estate agent may yield a higher return for the estate, and we always aim to recommend the best option for every seller that comes our way.

Our goal is to provide transparent advice, which is why, if a cash sale doesn’t align with your priorities or the potential of the property, we can offer other avenues like an online estate agency or property auction to help you achieve the ideal outcome.

To assist with your decision, we’ve broken down the key factors to consider when selling an inherited property: whether probate has been granted, the length of the probate process and the estate’s debt.

Have you received the Grant of Probate?

When considering a cash buyer for an inherited property, the first question to address is whether you’ve received the Grant of Probate. This is essential, as Probate grants you the legal authority to sell the property.

As we have previously mentioned, we can completely tailor the selling process to you and your circumstances. So, if you have yet to receive your Grant of Probate, then we can line up the sale for when you are expected to receive it - allowing you to line the grant approval with the exchanging and completion of contracts.

If you have already been granted probate and need to sell quickly – perhaps due to time constraints like change in personal or financial circumstances – then a property buyer can provide a fast and often hassle free solution, helping you to complete the sale in as little as 7 days.

If time is less of a concern, but getting the most out of the sale is important, you may want to explore our hybrid estate agency or property auction services, which can offer a higher return over a slightly longer selling period.

For those without pressing deadlines or desired financial goals, selling through a traditional estate agent could work well, with the process typically taking over six months.

How long have you waited for probate to be granted?

With wait time for the Grant of Probate reaching record lengths, it’s understandable that many estates and executors want to sell as quickly as possible once probate is granted.

If your inherited property has been in the probate process for over five months, a cash buyer like The Property Buying Company can be an ideal solution. We’re able to buy the property as soon as probate is granted, offering a fast and efficient  sale that minimises further delays and risks seen on the open market.

If your probate process was relatively smooth and you haven’t experienced extended wait times (lucky you!), but still want a fast sale, a cash buyer is also worth considering.

However, if you’re not under time constraints or financial pressure, an online or traditional estate agent might be a better option to maximise your return over a longer sales period.

How much debt is tied to the estate?

If the estate has significant debt, such as outstanding mortgages or loans, lenders will often require payment made promptly, putting pressure on you as the executor to settle these obligations quickly. Selling to a property cash buyer offers a fast and efficient sale process, allowing you to release equity and pay off debts in as little as 7 days.

When selling on the open market, delays are common, which can lead to accumulating interest and fees, further reducing the estate’s overall value. Choosing a cash buyer helps you avoid these additional costs, providing a quick sale and enabling faster debt repayment, ultimately preserving more of the estate’s assets for beneficiaries.

Is selling for cash right for the estate?

If the estate has significant debts that need to be settled quickly, a cash sale can provide the immediate release of funds required to pay off lenders, reducing the interest accrual and preserving the estate’s remaining assets – which can be split among beneficiaries.

Most cash buyers can complete the sale in as little as 7 days, which is especially beneficial if the property has been in probate for a while or if beneficiaries have peace of mind and a secure timeline for closing the estate.

While a property cash buyer may offer slightly Below Market Value, they do provide speed and certainty, which can be important when managing complex estates or settling outstanding obligations.

Executors should also take into account the preferences of the beneficiaries. If they prioritise speed and certainty over getting the most profit, a cash sale may be ideal. However, if they are more interested in obtaining the highest possible price, an open market approach could be more suitable. 

Ultimately, selling for cash can be a strong choice for estates needing a fast resolution, but it's important to weigh the benefits of a fast, low risk sale against the potential for a higher return through traditional estate agents. 

Do cash sales fall through?

When selling an inherited property, working with a professional cash buyer offers a very low risk of the sale falling through. For example, at The Property Buying Company, our operations ensure a 99% likelihood that we will successfully complete the purchase, providing executors and beneficiaries with peace of mind in a nearly guaranteed outcome.

However, individual buyers on the open market have a higher chance of the transaction falling through. This is often because they may still need to secure financing, even if they initially present as “cash buyers,” and they lack the regulation that professional property buying companies adhere to. 

This can introduce additional uncertainties into the process, especially when dealing with the complexities of inherited properties.

To ensure a smooth and secure sale, always verify that any cash buyer is registered with the National Association of Property Buyers or The Property Ombudsman.These organisations follow high industry standards, helping to protect sellers and simplify the process particularly in situations involving inherited properties.

How much cash do we offer for inherited properties?

When we buy inherited properties for cash, we don’t offer full market value, but we do provide a fair, competitive price, usually around 80% of the property’s market value. In some cases, our offer may be higher.

Our process begins with an initial cash offer, given over the phone, based on local market data and comparable property analysis. To ensure accuracy, we may then send one of our Regional Managers to visit the inherited property. This visit allows us to account for any unique features or potential issues, helping us refine our offer.

In some instances, we also arrange for a third-party RICS survey which helps us confirm the property’s market value and finalise our below-market cash offer.

By opting for a cash sale, you’ll receive an extremely quick and hassle free process, enabling the estate to sell the property in as little as 7 days. As the executor, you’ll have a dedicated point of contact to handle the entire sale from start to finish, ensuring a smooth and efficient experience.

How long does our process take?

When selling an inherited property for cash, you can save significant time compared to a traditional estate agent. With our cash buying process, you won’t need to list the property on the open market, wait for buyer mortgage approval or deal with lengthy conveyancing times.

Currently, the average house spends around 9 weeks on the market in the UK, with conveyancing often extending over 21 weeks. This has led to increased demand for cash buying services like ours.

As a cash buying company, we have dedicated cash reserves, allowing us to buy your property without arranging mortgages or external financing. This means we can buy your inherited property in as little as 7 days, though many executors prefer a 2 or 3 week timeline for added flexibility.

In addition to a fast purchase, we work with a nationwide panel of solicitors to ensure fast and timely completion, often well below the national average. Our cash for homes service provides you with a secure, hassle-free funds transfer, allowing you to settle the estate smoothly and move forward.

How fast can the funds be released?

Once the sale of your inherited property is completed, we release the funds immediately. Depending on your bank’s processing times, the money could appear in your account instantly; however, in some cases, it may take between 24 and 48 hours to complete the transfer.

Our cash buying service for inherited properties is designed for speed and efficiency. We can provide an initial offer within 24 hours, and from there, complete the purchase in as little as 7 days.

For example, if you accept our offer on October 26th, the funds could be in your bank account between November 3rd and November 5th, allowing you to finalise estate matters quickly and move forward.

Why choose us for your inherited property sale?

As the UK’s most rated cash property buyer, we prioritise protecting and supporting our house sellers at every stage of the sale process. Our commitment to transparency and care sets us apart, and we work hard to build a genuine relationship with each customer.

To ensure a consistent experience, you’ll have a dedicated property consultant assigned to your case, serving as your single point of contact from start to finish. Our high customer satisfaction is reflected in the numerous positive reviews we’ve received on Trustpilot from homeowners who value our reliable, attentive service.

Not only are we one of the UK’s most trusted cash buyers, but we also bring over 13 years of experience to every transaction. Our team has over 200 years of combined expertise in cash buying, which means we understand the complexities of buying an inherited property and can complete your sale quickly. Our priority is always your peace of mind, ensuring that you feel supported at every stage of the journey.

If you’re considering a cash sale for your inherited property and would like more information, we invite you to speak with one of our knowledgeable property consultants. Simply fill in the postcode form below and we’ll help you get started on a smooth, stress-free sale.