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Probate and house valuations

2 replies

AfternoonToffee · 30/04/2021 21:19

My MIL has recently passed away, dh is an only child and everything has been left to him. (FIL passed away 9 years ago).

We do need to go through probate. There is about 100k in savings, then houses in top notch condition in her road and immediate locality go for a max of 110k (I am NE England, hence the low house prices). Her house is not in top notch condition -currently no central heating or boiler, unmodernised kitchen and a functional bathroom, so realistically will be less than 100k.

Estate therefore is worth a max of 200k; as this is so far off the threshold will we need 3 valuations or can we just have the one? So far the first EA we have contacted will charge us £50 for the privilege (and warned us another big local one charges £120)

I have googled and googled and am so confused it is untrue.

Thank you.

OP posts:
Brownlongearedbat · 01/05/2021 13:41

Will you be selling the house? We had my fil's place valued by an agent free of charge because we said we would sell it through them, which we are now doing as we have got probate. Our solicitor said one valuation would be fine as it is a relatively low value retirement property.
Conversely, when my parents died we had to get their house valued by a surveyor for probate purposes (large property and large complicated estate) and it cost nearly £700. However, this cost was a legitimate expense that was borne by the estate.
Are you doing probate yourself?

StCharlotte · 03/05/2021 11:31

You only need one valuation. It doesn't even have to be from an estate agent as the estate will be well under the IHT threshhold.

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