Forum Topic

Valuation for probate

As part of the probate requirements for the estate of my late wife, I have to provide a valuation of our jointly-held property, as of August 2020, the date of her death. Can anyone recommend an Estate Agency who would do this, please?

Arnold Saxton ● 2123d13 Comments

Hi Arnold, my condolences for your loss. Paul Cooney, the director at Horton and Garton Chiswick is an agent who can provide you with an accurate market value and will be able to provide sensible advice moving forward. I looked up the office number for you - 020 8996 5120.He's been very helpful giving advice on our property and is far more patient than other agents and hasn't pestered us.

Amy Marshall ● 2123d

Russell Savage at Whitmans in Turnham Green terrace. He has been an agent in Chiswick since the 80's. He has done a lot of probate valuations over the years. He has acted on all my Chiswick property transactions since 1990 and I have always found his advice honest and sound.

david ward ● 2123d

In case of subsequent dispute, more worth is likely to be placed on a valuation by a RICS (or equivalent) surveyor. Worth making sure your valuer has those letters appended to their name.

Ken Munn ● 2123d

I understand your view but didn't feel it was necessary to recommend a member of the RICS as I know Russell Savage has acted on many probate and CGT valuations over the years, including ones that have got contentious on valuable Bedford Park houses. I am RICS myself incidentally

david ward ● 2123d

I think Whitmans did it for me in 2015 when my husband died. There shouldn't be any scope for 'dispute' given that it's a spousal inheritance and, therefore, not subject to inheritance tax.

Susan Kelly ● 2123d

Lots of estate agents offer ‘ probate valuations’. As in all professions there are good practitioners and some not so good. I’d want to ensure that they understand what the HMRC requirements are, the difference between this valuation and a straightforward sales valuation and ask them for clients’ feedback. I’d expect a full breakdown of the cost based on how many hours a visit and writing the report would take to write.

Stewart Jones ● 2123d

I would recommend Whitman’s as well.  Just from having been through this process myself, for probate reasons, if the valuation is in line with the prices for comparable properties in your neighbourhood, HMRC are unlikely to dispute the figure.

Sandra Jones ● 2122d

'I’d expect a full breakdown of the cost based on how many hours a visit and writing the report would take to write.'I wouldn't expect to pay for this service and there's not normally a need for a report.

Susan Kelly ● 2122d

I asked three estate agents to look at my property and they each wrote me  a letter with a value.  None of them charged - but this was probably because they all hoped to get the business when the property was sold.  It might be trickier if it is still your home and it is clear that you have no interest in selling the property.  You wouldn’t need a report, just some evidence as to how you came to the valuation for the probate forms - which could be a letter.

Sandra Jones ● 2122d

Agreed!!

david ward ● 2122d

I made it clear when asking estate agents for Probate valuation that I had no intention of selling in the foreseeable. Neither had a problem with that. A large part of their work is doing valuations for people who then go with a different agent, so they're used to it.

Susan Kelly ● 2122d

I recommend Whitman & Co for all property matters.  Totally independent and have been in Chiswick for many years, helpful, realistic and a pleasure to deal with.

Janice White ● 2122d

My thanks to all who replied. I have asked Mr Savage at Whitmans to come up with a valuation. The Forum is such a help in matters one is unfamiliar with!

Arnold Saxton ● 2122d