By Dedman Gray Auctions – Essex’s Most Successful Property Auctioneer
When a property owner passes away leaving an equity release mortgage in place, their family or executors often face a very specific challenge: the lender will typically require the loan to be repaid within 12 months of the mortgagor’s death. That time limit can place significant pressure on those responsible for the estate – especially if the property sale is delayed or complicated.
In these circumstances, selling by property auction can provide the speed, certainty, and transparency that executors and beneficiaries need.
Why Time Matters
Equity release products are designed to be repaid when the property is sold, usually after the owner passes away. While 12 months may sound generous, it is surprising how quickly the time can pass once you account for probate, arranging valuations, and marketing the property.
Traditional estate agency sales can take many months, with the national average from listing to completion now often stretching beyond six to eight months – and that’s if the sale goes smoothly. In contrast, an auction offers a clear, accelerated route to completion, often within weeks.
The Auction Advantage
Speed from Start to Finish
At Dedman Gray Auctions, we can take a property from initial instruction to auction day within a matter of weeks. Once the hammer falls, contracts are exchanged immediately and completion normally follows within just 28 days. That means you could have the sale proceeds in hand well within the lender’s 12-month deadline – often much sooner.
Certainty of Sale
In the open market, there’s always the risk of a sale falling through due to mortgage issues, chain collapses, or a buyer changing their mind. At auction, once the winning bid is accepted, the buyer is legally bound to proceed. This removes uncertainty and ensures you can settle the equity release loan on time.
Reaching the Right Buyers
Properties with equity release in place are often sold as part of an estate, and may require modernisation. Auctions attract a wide pool of buyers – from private purchasers to investors – who are comfortable buying such properties. Competitive bidding can help achieve the best possible market price in a single day.
Helping Executors and Families
We understand that selling a property after a loved one has passed away can be a sensitive process. Our experienced team handles every stage professionally and efficiently, providing regular updates and guidance. We work closely with solicitors, executors, and beneficiaries to ensure all legal and practical requirements are met in good time.
Essex’s Most Successful Property Auctioneer
At Dedman Gray Auctions, we have a proven track record of helping clients meet critical deadlines while achieving strong prices. Our combination of expert marketing, extensive buyer database, and well-established auction platform delivers results that traditional sales methods simply can’t match for speed and certainty.
If you’re an executor or family member needing to sell a property with an equity release mortgage, don’t risk running out of time. Contact Dedman Gray Auctions today for a free, no-obligation appraisal – and discover how quickly and securely we can get your property sold.