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Property valuation for probate

(3 Posts)
101Jo101 Mon 15-Oct-12 11:30:06

I'm really hoping someone can point me in the right direction, please?

My mother died about a month ago, I lived with my parents in their home. Now it's just me and my father living there. We need to find out how much the property is worth. Will local estate agents give us a free valuation and will they put it in writing? Or do they only give verbal quotes? Also, would you pretend to them that you're thinking of selling the property or would you tell them the real reason why you're having it valued, i.e. probate?

Any help and tips would be greatly appreciated.

BensonRiley Mon 15-Oct-12 22:02:18

An estate agent will give you a quote without strings, and will put it in writing if you ask them to. You can tell them the reason why, because they will keep the information on their books in the hope they will get your custom as and when you need to sell. Get 3 quotes. I did this when I needed to know how much the marital home was worth when I started thinking about divorce, and made it quite clear it was not being marketed at the moment. They were all very nice, and I have only ever received one phone call since asking if it was going on the market soon. Good luck.

IamtheZombie Mon 15-Oct-12 22:08:58

Tell them that the valuation is for probate purposes. A probate valuation has to be the realistic market value as it will need to be declared to HMRC on the form you need to complete for Inheritance Tax purposes. Get the valuation in writing. You may need to pay a fee but it shouldn't be a huge amount.

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