Buying a deceased estate- tips?

[ldriver]

Hi

Tried the search first but no luck!

Are there additional considerations to take in account, when buying a deceased estate?
What questions/additional information should I look for in the section 32? If there is a probate delay issue, is settlement date unfixed or set with penalties?

Thank you.

PS It doesn't bother me if someone died in there naturally.

 

[Propertunity]

Tried the search first but no luck!

Try this: site:somersoft.com "deceased estate"
plenty to read there - all 308 threads / references

 

[ldriver]

Thanks- did the quick scan.

From what I've read the main concern is the granting of probate and murders etc.

Is there anything else to look out for/ask the agent? If the house stacks up ok, it will be our new PPOR.

 

[boods99]

Search the entire house and make sure the dead body has been FULLY removed.

Boods

 

[Propertunity]

Is there anything else to look out for/ask the agent?

People die all the time, it is the property you are interested in. The only thing with a deceased estate is that you are now dealing with beneficiaries as a vendor. Some of these (in my experience) can be incredibly reasonable and just want a fair price and an ordered sale.

Sometimes you get one greedy beneficiary and three reasonable ones. So there can be some stuffing around before you can get an offer accepted.

 

[marg4000]

People focusing on deceased estates sometimes seem to think they are cheap pickings, otherwise it is the beneficiary's fault.

I don't think it is necessarily a case of beneficiaries being greedy.

There appears to be a perception that deceased estates should be bargains - surely a beneficiary has just as much right to expect full market price as any other vendor.

We sold my mother's house when she entered a nursing home. We felt it was our responsibility to obtain the best possible price for her as it was her sole asset. We felt it was priced fairly and it sold within a few days.

As with any other sale, an overpriced property will sit on the market.
Marg

 

[ldriver]

I think this house will go for market value, but I'm not sure how to price it.

I think people will discount once they figure out the cost of repairs and a renovation.

 

[Propertunity]

I think this house will go for market value, but I'm not sure how to price it.

Well you need to educate yourself on how to do so - it is exactly the same process for any property really - no different.

 

[landlubber]

Love those smelly old babies !!

Deceased estates ...the worse they look/smell etc ..the more money you make!
Love 'em.
LL