Buying Probate Property With Finance

This potential for discount comes at a price, however, as probate takes a long time. If you’re pursuing a property acquisition through probate, chances are you’ll face delays and complications – which in turn can make lenders hesitate to offer finance on your potential investment. 

When a person dies, an executor is appointed to handle probate. This process involves selling the deceased’s assets, then resolving debts and finally distributing the funds between any beneficiaries. This can be a long process, often taking months or even years, which may frustrate investors who want to acquire the property as soon as possible. 

Don’t let these delays hold you back. With Rangewell, you can get the finance you need to help progress a probate property acquisition, regardless of the prospective delays. We’ll help you identify the right lenders and negotiate the best type of business loan to suit the probate acquisition. We can then negotiate on your behalf to secure property finance at rates and terms complementary to your goals. 

Commercial property in probate 

In most cases, people assume that probate applies solely to private residences. However, the death of a business owner also triggers probate – which means commercial property can quite easily fall into the process too. 

Probate for business owners is usually more complex because it may involve other owners and employees, which can delay things even further. The owner’s assets must be assessed and valued, which is even more challenging because some business assets have different ‘on-paper’ values compared to their tangible impact to the business itself. 

If the company ceases operations following the owner’s death, the property will generally be sold. If it continues to operate and a new director is appointed, the fate of the premises may depend on the business’ existing debts and obligations. In some cases, the premises may be sold back to a landlord who then rents it back to the business – or it will be sold entirely and the business will relocate. 

As an investor, buying commercial property that goes into probate allows you to benefit from a discounted asking price, but expect to navigate delays even longer than for personal property. 

Again, Rangewell can help you. We can find lenders willing to give you the finance you need NOW, regardless of the delays, so you can make opportunistic investments at the right time without waiting for probate to finish.  

Refinancing probate property

In some cases, investors might inherit a property from a loved one that has outstanding finance against it. If this happens to you, the probate process can lock you into unfavourable terms until you can properly secure ownership and then refinance it. 

Speak to Rangewell in this rare case and see how we can help you. Our specialist lenders will be able to offer support and advice to help you expedite the process and refinance to more attractive rates. 

Get a commercial mortgage for probate property with Rangewell

Don’t let delays stop you from seizing the opportunity and securing property in probate. Talk to Rangewell and we’ll help you successfully raise the finance you need to capitalise on potential.