What You Need to Know About Probate Property
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What You Need to Know About Probate Property
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37 Question Due Diligence Checklist / Auction Guide
Our Sponsors: Finnigan McNeill Property Group
Have you ever heard the word probate and not really understood what it means?
Today’s episode gives a glimpse into the distribution of property owned by someone who has passed away.
Nick Kalms set up an auction house for selling probate properties, after spending 25 years as a property trader.
He named it Probate.Auction and he was joined for the interview by his Head of Partnerships Dan Marsden.
During the episode, we discuss:
- The meaning and legal process of probate
- Post-Covid delays in obtaining probate
- Differences between live and timed auctions, including the flexibility and increased sale rates in timed auctions post-Covid.
- The role of charity legacy teams and probate lawyers as key sources of vendor referrals, and examples of charities benefiting from auction sales.
- Buying probate properties at auction: always read the legal pack, especially the special conditions, and watch out for hidden or cleverly disguised fees.
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