probate

It’s an exciting moment when a buyer puts a good offer on the table.

After all your hard work to prepare your home for sale, it feels like everything is finally falling into place.

But before you agree a price in a rush of giddy delight, it’s important to ask a few questions – especially if more than one buyer is interested.

This is because you need to understand a buyer’s position to evaluate how good an offer really is.

If you’ve just inherited a rental property, then you may be wondering what your options are.

While you won’t need to make any decisions on the spot (it usually takes many months to settle an estate), it’s good to start thinking about the issues you’ll have to address in time.

The first is what you intend to do with the property. Assuming you don’t want to move in yourself, your options are to:

Continue to rent the property out. That way, you’ll earn a monthly income and have a long-term investment that you could later pass on to your family.

Sell the property and use the funds to pay debts, invest or spend how you wish.

Let’s look at what each scenario involves.

Picture this: After a long and exhausting property search you finally find the home that’s just right for you. But then the estate agent mentions that it’s a ‘probate property’ and you’re left scratching your head.

While it’s a term that you’ve heard before, you’re not entirely sure what it means and if it could scupper your homebuying plans.

Well, let us explain…

Welcome to Waterford Property Watch, the sixth in our series of in-depth discussions on what’s happening in the Waterford property […]