House buying limbo he'll

[SexNamesRFab]

We exchanged on our sale and purchase last week and are due to complete on Friday. Unfortunately our vendor passed away this morning. His son has power of attorney but, as inheritance tax will apply, will now need to get probate before we complete.

Obviously very sad for the family. I'm in a complete panic over what this means for us. We have to complete our sale and move out of our home on Friday. The solicitor suggests moving into new property under license. It's in a complete state - we were planning works straight away. Also panicking in case mortgage offer expires/withdrawn.

Hell - fucking iPhone

Oh Christ. No advice but what a nightmare.

I was under the impression that the sale would still go through because of contracts being in place?

Wowzers. What a pickle. I would keep everyone in the chain informed and follow the advice of your solicitor and their senior partner if they have one. This doesnt happen often so most of us on here will be just guessing, however as Ragamuffin says the sale is already final so you are contractually obliged to purchase and the estate will be obliged to sell to you.

I guess it depends in part on what the deceased vendor was planning to do once his estate was sold. I'm assuming he was an older gentleman. Was he planning on moving into long-term care do you know, or was he buying another property? Obviously if he was buying another property then it'll be more complicated.

www.co-oplegalservices.co.uk/media-centre/articles-sept-dec-2016/what-happens-when-someone-selling-a-property-dies/

Posted too soon! As the others have said - the contractual obligations still hold by and large.

I can't bloody believe it. Just looked at license and it looks well dodged as it doesn't give us exclusive rights to the property.

Thank you hodge. He was the sole owner and was already in a care home - so no onward chain.

Right I would have thought (and to be fair I'm making a best guess here) that in that case since contracts have been signed the sale can still complete, but the proceeds from the sale won't be able to be released until probate / inheritance tax issues had been sorted. But obviously you need to be guided by your solicitor here.

I think the son having power of attorney is probably irrelevant now as I believe that only gives him authority over decisions whilst the person is alive.

If contracts have exchanged and they fail to complete, they will be liable for all your costs (including storage, rental property, hotel fees etc), and those down the chain.

That being the case, i would think the only reasonable option is to complete as planned. I can’t imagine hmrc will be too happy at losing their chunk of inheritance because all the money has gone on your costs.

Surely the advice will be to complete, but the executor will need to hang on to the money until probate is sorted?

I have definitely read on MN before that someone had this exact same experience. However the vendor died the day before completion. She commented that it all still went ahead as normal.

Obviously what I read on MN at some point in the distant past doesn't help you, but there must be some solid info out there. I agree with the PP, surely the money just gets sorted out afterwards. I wouldn't definitely query this with your solicitor backing it up with some facts.

Sounds like a bloody nightmare

• Would. Would query. Not wouldn't.

I'd go back to the solicitor and ask on what basis can completion not simply go ahead as planned? It must be something in the contract if she's suggesting you need a licence in order to move in.

Forget that - just read the link above, but yes I'd be looking to move in to the place.

I would have thought completion should go ahead and the sale proceeds will go to whoever inherits, they will then pay probate on that?

I'm not a lawyer but that seems likely.....it would be bizarre to have a property go through probate at this point.

How are things OP?