Property valuation when there is no will

[BillER]

Dear All,

I have asked a number of estate agents to carry out free valuations on my mother's house. She passed away recently with no will.

In their valuation letters they have stated 'Probate Valuation'- is this correct? I thought probate was used when there is a will. Could anyone advise on the correct terminology?

Thank you for your time and responses.

Best regards,

Bill

It’s correct - valuation when you’re selling for a deceased person’s estate/calculation of death duties and valuation for sale might not be the same amount.

They're just using it as an easy way of saying 'date of death valuation'. Being really picky the terminology isn't quite right for the reason you mention but it's no big deal.

Thanks for the reply

The estate still needs to be valued for tax purposes regardless of whether or not there is a will. As PP says, sale valuation and probate valuation are two separate things.

To add Harv look a bit closer at properties left in Wills and estimates by estate agents to ensure no anomalies. Ours was fine but they did say it has an extra level of scrutiny

Hmrc

Thanks for all your replies.

Are probate valuations lower than market appraisal valuations?