When do I need a Probate Valuation?
A Probate Valuation, more correctly known as a ‘valuation for inhertance tax purposes’, is required when the value of a deceased person’s estate is, or may be, above the threshold at which inheritance tax is payable.
In such circumstances, it is necessary to value the estate, including any property that forms part of the estate, in order that inheritance tax calculations can be completed.
A RICS Red Book Valuation, undertaken by a RICS Registered Valuer, is the most accurate form of property valuation available and is more likely to be accepted by HMRC than other types of valuation (for example, an estate agent’s property appraisal).
Please Contact Me for a fast, free, no-obligation Probate Valuation quotation.
Fast and reliable Probate Valuations
As a RICS Registered Valuer, I am able to provide Probate Valuations in the form required by HMRC.
An expert on the Norfolk property market, I am able to provide timely and accurate valuations.
The valuation inspection typically takes around 1 – 3 hours (depending on the size and condition of the property) and valuation reports are issued no later than 3 working days after the inspection.
The cost of a Probate Valuation varies significantly depending on the type, size and condition of the property but is typically between £349 and £899 (no VAT to pay). Fees may be higher for very large or complex properties.
If you have other questions about the Probate Valuation process, please visit my FAQs.
Alternatively, please feel free give me a call and I’ll be happy to talk through any questions you may have.
