Probate for corporate client - should I stay clear?

[TaleOfTheContinents]

DH and I are first time buyers and have spotted a property that we like. The estate agent has included the following note in the advert and it's a bit off-putting. Sounds to me like the house was left to a charity, it might take ages for the probate to be granted, and they're leaving it on the market so we might get gazumped. Also, as far as I know, vendors are usually legally obliged to fill out a questionnaire about the condition of the house, but we wouldn't have the benefit of this. What do you think? Still worth going ahead?

Agent's Note:
This property is being sold on behalf of a corporate client. It is marked subject to obtaining the grant of probate and must remain on the market until contracts are exchanged. As part of a deceased's estate it may not be possible to provide answers to the standard property questionnaire. Please refer to the agent before viewing if you feel this may affect your buying decision.

Please note that any services, heating system or appliances have not been tested, and no warranty can be given or implied as to their working order.

Is it a fixer upper? If so, you’ll get your own survey and expect to do all the work so you might as well consider it. I’d just bear in mind that probates take time so you might need to wait several months to complete on the property.

I'd ask the estate agent if there were likely to be delays with the probate. And why - if the corporate body (eg charity) are going for top dollar - they aren't already providing basic details like boiler checks etc.

i would be wary of this one especially if its for a charity i know of someone who left her house to an animal charity (big national one) in her will and because the charity wanted maximum money for the property (as in overpriced) and would not sell it for less the house was empty for around ten years till it fell down from neglect, so the lady who left them the house didnt get her wish as in the money going to the animals, and in the end because the charities solicitors wouldnt sell it they lost out altogether im not saying this would be the same scenario but charity houses sales are not always straight forward

@JoJoSM2 It's actually in pretty good condition, just quite dated. Yes, I had read that probates take longer so that's definitely something to consider.

@crosstalk You would think they would include some checks. I'll call up the estate agent to ask

@isseywith4vampirecats What a pity and so unnecessary! Something similar happened to my colleague's DH, whose mother had jointly left her home to him and a charity. They did eventually sell, but only after years on the market and a lot of resistance from the charity re: lowering the price.

I think I'll give the estate agent a call, find out how far along they are in the probate process and what checks will be provided. If the answers aren't what we're looking for, we'll probably pass or keep an eye on the listing in the new year in case there are updates.

Re the questionairre - we sold our deceased parents property a few years ago. My brother and I spent ages on it, and many of our answers were 'don't know', as we had never lived in the property and could only pass on information that would be obvious to anybody through a general inspection. This was no hindrance to the sale though (it was a house in good order ready to move into). Probate was another matter, as in our case it was a complicated estate and took 14 months from the death of our last remaining parent. The seller's solicitor should have some idea of how far down the process this is, and may be of some help?

I would back away from that house tbh. It sounds overly-complicated to deal with in what is a pretty stressful time for most people anyway. Having to leave it on the market until exchange would be super-stressful as well! I think you are right that it's been left to a charity or organisation.

Good condition but quite dated? If everything looks like it’s 20-30+ years old, you might need to do things like re-wire, new boiler or find the plaster crumbling when you take wallpapers off.

If the price seems reasonable, then you won’t be at risk of the house sitting on the market for years. But it could take a few months so might not suit if you’re pregnant, want to change jobs in 6 months etc. Otherwise, I can’t see any harm in going ahead with it.

We offered on a similar property and they were after the maximum amount they could get obviously. That meant higher bids would be considered right up until exchange, which in a competitive area is frustrating.
The charity had already had a survey due to a clear roof issue to establish the problem but no other details available.

Tbh I think it is odd that they are marketing this property when probate hasn't been granted. That really isn't the norm ime

We’ve just exchanged on a probate property with a similar agents note, although it’s family who are the beneficiaries not a charity.

We asked to have the property removed from market and then said once there was evidence of funds and moving the sale along they would and they did. This was early in the process as we were serious buyers and happy to pull our fingers out.

We’re due to complete next week which I think is week 13. The only hold up was the conveyancer (separate from the corporate firm) was absolutely useless and sat on paperwork longer than necessary.

I’d check, it may not be a charity selling it, it may just being sold by a probate company on behalf of an estate rather than an individual. The company that did my dad’s estate offered this service but we sold it with a normal agent.

Thank you for the replies/advice! Interesting to hear of your personal experiences @fiorentina, @PeachPotato and @Yoohoo16.

Seems like the key bit of information is who this 'corporate client' is (i.e. charity or family/probate company) and whether the property would be taken off the market after an offer is accepted (would hate to be gazumped), so I'll call the estate agent to find out.