Home valuation for probate

S

Shelby219

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When the probate solicitor is looking for a valuation of a married couples family home (in joint names) when applying for probate of one of the partners is a professional valuation required?
 
I don't know of any other valuation that would have much validity. What kind of valuation were you thinking of?
 
This is what the solicitor asked for "Even though the house is in joint names we will still need to include it in our probate application. Please confirm its value."
 
Valuation is that pertaining on date of death. You could pay a professional valuer or perhaps get three estate agents to quote.
 
Having 3 estate agents quoting for a mickey mouse valuation sounds like total overkill.
 
I had to pay for a valuation for probate from an estate agent, but was told the fee would be used as a discount if we subsequently sell through the same estate agent.
 
When applying for probate on my mother-in-law’s estate to include her house, we gave our own estimate based on recent sales. It was obviously acceptable as it was never challenged.

Bear in mind that CGT is payable on the difference between the value expressed on the probate application and the amount achieved on eventual sale. There may be an advantage therefore in providing a valuation on the high side of what it’s reasonably worth.
 
Last edited:
Did the same.
The house was split 7 ways and none of the beneficiaries were likely to get any other large inheritances in their lifetimes. It was therefore worthwhile to maximise the value of the house.
 
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