Probate valuation

We provide market valuations for the purpose of establishing an accurate value of property assets during probate proceedings. 

Experts in property valuation

What do we do?

Acting for the executors of wills, we will provide a market valuation to determine the value of any property or land at the date of death to assist in the task of dealing with the estate of somebody who has died.

The value of all assets including property, cash and belongings, deducting any outstanding debts is required to determine if any inheritance tax is due. It is usually the responsibility of the executors named in the will to manage this task during the probate process.  

A formal valuation conducted by a RICS registered valuer is needed to ensure the correct level of tax is established.

We act and advise on

Market valuations for probate purposes

Valuations for capital gains purposes

Our service includes

  • Initial advice in respect of probate valuations
  • Inspection of the property
  • Reporting the Market Value at the applicable valuation date
  • Negotiating with HMRC should they raise any queries regarding the value provided

Key things for executors to remember

A valuation conducted by a RICS registered valuer is much more likely to be accepted by HMRC

If the property is going to be sold, a formal open market valuation by a surveyor is needed

If an estate includes a property or land held in the sold name of the person who died, you will probably need to apply for a grant of representation

For guidance on your individual options, please get in touch

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Probate valuation FAQs

If you’re an executor of a will and have questions regarding valuing property assets during the probate process, our frequently asked questions below try to clear up some common concerns.  

  • What is probate?

    Probate is a legal process that you may have to go through when somebody dies. A probate document issued by the Court is confirmation that you have legal right to deal with the estate. If an estate includes a property or land held in the sold name of the person who died, you will probably need to apply for a grant of representation.

  • What factors affect open market value?

    The condition of the premises, the use of the premises and general valuation figures for similar premises in the area are the biggest factors. For more information on how valuation figures are given and why they may differ from sale price, see our blog ‘4 property valuation questions answered‘ 

  • What happens if the sale price is lower than the probate value?

    If the property is sold within 4 years of the date of death and the sale price is lower than the figure provided for Probate, a claim can be made to HM Revenue & Customs for a refund of any over payment in Inheritance Tax. 

  • What happens if the sale price is higher than the Probate value?

    If the property is sold soon after Probate is granted and the sale price is more than the figure submitted for probate, HM Revenue & Customs may try to substitute the sale price instead of the previously submitted figure and recalculate the Inheritance tax liability. This can be challenged and negotiated with the District Valuer if required. Alternatively HM Revenue & Customs may view the increase as a gain during the administration period, and therefore Capital gains tax may be payable.

Our Team

Julia Garrard

BA (Hons) MRICS

Chartered Surveyor and RICS registered Valuer
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Ros Neal

BSc (Hons) MBA MRICS

Chartered Surveyor & RICS Registered Valuer
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Steven McCormack

BSc (Hons) MRICS

Chartered Surveyor & RICS Registered Valuer
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