Selling An Inherited Property
Losing someone you love is never easy and the grief that follows can feel overwhelming. On top of that, having to sort out financial and legal matters, like managing a will or selling an inherited property can feel like an extra weight on your shoulders. It’s a lot to handle at once, especially when you’re also navigating complicated things like inheritance tax or capital gains tax.
When you’re looking to sell an inherited property, the first thing to do is find the "will" of your loved one. This document will name the executor, the person responsible for handling the estate and the beneficiaries, who are the people set to inherit from it.
If you already know where the will is kept, that’s great. Often, it’ll be held by the solicitor who handled the person’s affairs, so it’s worth checking there if you’re unsure.
If there’s no will in place, things are handled a little differently – usually by the person’s next of kin.
Before taking any steps to sell, it can be helpful to speak with a legal professional to understand your position and what’s required.
If you’ve been named as the executor, your next step will usually be to apply for probate, which gives you the legal authority to manage and sell the property.
What is probate?
When someone passes away, probate is the legal process that allows their property, money and personal belongings to be managed and passed on to the right people. It gives the executor, the person responsible for sorting out the estate, the official permission to deal with everything in the person’s name, from selling a property to accessing bank accounts.
One of the first steps in probate is getting the property valued, even if you don’t plan to sell it straight away. This is important because HMRC requires any inheritance tax to be paid within six months, and the amount owed depends on the total value of the estate.
Who owns a property during probate?
The executor or administrator of the deceased person’s estate as named in the will is technically the owner of the property during probate. The personal representative is responsible for managing the estate, including the property, from the date of death until the assets are passed on to the beneficiaries.
Can you clear out a house before probate?
It’s a common question, especially if you’re hoping to speed up the sale of an inherited property. While it might feel practical to start clearing things out early, it’s best to wait until probate has been granted. Removing belongings beforehand can cause legal issues or disagreements between family members and beneficiaries.
Once probate is complete, you’ll have full permission to handle the property and its contents without any complications.
How long do I have to sell an inherited property?
One of the biggest pressures people face after inheriting a property is finding the funds to pay inheritance tax, which is usually due within six months of your loved one’s passing.
At Aarti Auctions, we understand that this can be a stressful time. That’s why we keep things simple, transparent and flexible helping you achieve a fast, hassle-free sale when you need it most.
What taxes do you need to pay when selling an inherited property?
When you inherit a property in England or Wales, the amount of tax you’ll pay depends on the total value of the estate and your relationship to the person who passed away.
In most cases, inheritance tax (IHT) only applies if the estate is worth more than £325,000. However, if you’re a direct descendant, for example, a child, grandchild, or great-grandchild (including step or foster children) the threshold increases to £500,000. If you’re the spouse or civil partner of the deceased, there’s some good news, you won’t need to pay any inheritance tax at all. Usually, inheritance tax is settled directly from the estate by the executor, meaning beneficiaries don’t have to pay it themselves. In some cases, it can even be paid in instalments over up to 10 years, although HMRC will add interest to the total amount due.
If you choose to rent out the property, you’ll need to pay income tax on any rental income, which must be declared each year through your self-assessment tax return.
Everyone’s situation is slightly different, and tax rules can be tricky to navigate. Speaking with a qualified accountant or tax advisor is the best way to make sure you understand what applies to you and how to plan effectively.
Do I have to pay Capital Gains Tax when selling an inherited property?
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You’ll only need to pay Capital Gains Tax if the property has increased in value between the time it was valued for inheritance and when you sell it. The amount can vary depending on your personal circumstances, and HMRC has an online calculator to help you get an idea of what might be owed. https://www.tax.service.gov.uk/calculate-your-capital-gains/resident/properties/
There are a couple of ways to reduce or even avoid paying Capital Gains Tax on an inherited property:
1. Living in the property – If the home becomes your main residence and you don’t rent it out, you won’t have to pay Capital Gains Tax when you sell.
2. Selling soon after inheritance – If you decide to sell shortly after the property’s valuation, you can avoid a potential rise in value that could increase your tax bill.
If you’re looking for a quick and stress-free sale, Aarti Auctions can help you sell your inherited property within 28 days — with no estate agent fees and full transparency from start to finish.
Selling an inherited home with Aarti Auctions
Once the legal side of things is sorted, you might be ready to sell your inherited property. But how you sell it can make a big difference, both in time and stress.
You could go the traditional route with an estate agent, but the process can take months. Sales can fall through if there are delays in the property chain and properties needing refurbishment can be especially tricky to sell.
The longer the gap between valuation and sale, the higher the chance the property’s value rises and that could mean paying Capital Gains Tax. Plus, traditional agents can charge high fees. Selling through a home-buying company is another option, but it can be just as slow. You might face fees or last-minute reductions on offers, leaving you frustrated after going through the process.
That’s where a trusted auction partner like Aarti Auctions comes in. We take the stress out of selling an inherited property with a fast, cash sale. Our buyers aren’t part of any property chain and our funds are ready — which means your sale can happen quickly and smoothly.
When you choose Aarti Auctions, our expert team handles everything for you. From legal procedures to completing the sale, you only deal with us directly. There are no hidden costs, and we even cover legal fees, so you can sell your inherited property completely free.
We can work around your timeframe and can sell almost any property in any condition. Get in touch for a no-obligation cash offer or call Aarti directly on 07772 869656 to discuss your situation.
Selling an inherited
property quickly?
Selling an inherited property quickly doesn’t have to be complicated.
Here at Aarti Auctions, we aim to make the process of selling easy by following this simple process:
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Step 1: Contact us
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Step 2: Receive your auction valuation
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Step 3: Sell your house for free with ease
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Step 4: Complete your sale
At Your Convenience
We aim to take the hassle out of the selling process.
We offer you the ability to sell quickly, meaning that you avoid the hassle of a traditional sale, which can often make the process even longer.