If property transferred to beneficiary is it best to get a RICS to do valuation?
Options
lulabel5
Posts: 10 Forumite
Hi there
If an inherited property is to be transferred to beneficiary is it best to get a RICS to do valuation or estate agents? (as estate agents seem to put in very high valuations)
If an inherited property is to be transferred to beneficiary is it best to get a RICS to do valuation or estate agents? (as estate agents seem to put in very high valuations)
0
Comments
-
Hi there
If an inherited property is to be transferred to beneficiary is it best to get a RICS to do valuation or estate agents? (as estate agents seem to put in very high valuations)0 -
Hi there
The valuation for IHT has already been submitted and probate granted - however, the solicitor seems to think that if one of the two beneficiaries has the property transferred to them via appropriation, another valuation will have to be done to work out what the current value of the property is, ie: what proportion of the estate it represents.
Is it possible to insist that a Chartered surveyor does this rather than an estate agent, as the estate agents seem to want to put in the highest value, even though they freely admit it is unlikely the property will sell for this amount. To be fair to both beneficiaries, is it better to get a chartered urveyor to do this valuation and can the solicitors/executor be compelled to use this method?
Thanks!0 -
Hi there
The valuation for IHT has already been submitted and probate granted - however, the solicitor seems to think that if one of the two beneficiaries has the property transferred to them via appropriation, another valuation will have to be done to work out what the current value of the property is, ie: what proportion of the estate it represents.
Is it possible to insist that a Chartered surveyor does this rather than an estate agent, as the estate agents seem to want to put in the highest value, even though they freely admit it is unlikely the property will sell for this amount. To be fair to both beneficiaries, is it better to get a chartered urveyor to do this valuation and can the solicitors/executor be compelled to use this method?
Thanks!0
This discussion has been closed.
Categories
- All Categories
- 343.2K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.7K Spending & Discounts
- 235.3K Work, Benefits & Business
- 608.1K Mortgages, Homes & Bills
- 173.1K Life & Family
- 247.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards