House valuation for Probate

You don’t have to have an independant valuation, for probate market value of similar houses nearby less the costs of selling, try to be realistic and no point of overvaluing it.
The valuation will be checked by the District Valuer who knows what all the properties are sold for, if it is incorrect they will demand revaluation.

As the property is to be sold you have 2 yrs to submit probate.

MawtheMerrier

When I had to deal with probate after my father died, and had to have my parents’ house valued, the solicitor was happy to put forward a ballpark figure at the bottom end of the scale for houses of a comparable size and age. The fact that it is currently tenanted should help keep the valuation down (the way you want it).

Our solicitor suggested that we want a high valuation for probate otherwise we will pay capital gains tax if we sell for a higher amount next year. It’s getting a bit too complicated for me now!

Oopsadaisy1

Looking at it from their point of view, they are busy valuing houses that they hope to sell and they do it for no payment, many house owners ask 3 estate agents around so they aren’t always lucky enough to get a property to sell.

You want a free valuation on a house that you presumably will inherit and you aren’t able to sell it, maybe you can see why they don’t want to do it?

BTW you can sell a property with a tenant in situ. If someone is looking for a buy to let having a tenant already in the house could be a bonus for them.

I appreciate what you have said, we are happy to pay for a valuation so I think we will go ahead and do that.

I understand that estate agents might not be willing to provide a valuation if they think we are not selling and I suppose they won’t just believe us when we say we will definitely sell next year.

I have considered selling with the tenant in situ but my three siblings are happy to wait, they feel we will be offered a lower amount for a tenanted property.

Last September after my husband died, I asked a local, always busy , estate agent if they would value my house for probate., making it clear I had no intention of selling. The Sales Manager and another agent spent an hour going round the house and discussing it with me. The next day they phoned with the valuation and two days later hand delivered a letter for me and one for the solicitor , all in a folder. There was no charge.

When I had to deal with probate after my father died, and had to have my parents’ house valued, the solicitor was happy to put forward a ballpark figure at the bottom end of the scale for houses of a comparable size and age. The fact that it is currently tenanted should help keep the valuation down (the way you want it).

An estate agent valued my mil’s house for probate at no cost. Three years later, with Covid intervening, they are now handling the sale so will get something. Probate evaluation is usually lower so the house is on the market at a higher price… So giving a probate evaluation is a good future investment for an estate agent and you would recommend them to others.

To be fair, you can’t expect them to value a house, for probate purposes. What are they going to gain from it? The EA who is handling your Rental, will be able to give you a Valuation, but I’m sure there will be a Fee.

You cannot expect them to spend their time and expertise at your convenience for nothing, they are a business.

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Looking at it from their point of view, they are busy valuing houses that they hope to sell and they do it for no payment, many house owners ask 3 estate agents around so they aren’t always lucky enough to get a property to sell.

You want a free valuation on a house that you presumably will inherit and you aren’t able to sell it, maybe you can see why they don’t want to do it?

BTW you can sell a property with a tenant in situ. If someone is looking for a buy to let having a tenant already in the house could be a bonus for them.