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  • FIRST POST
    • MarkFromCornwall
    • By MarkFromCornwall 11th Oct 16, 5:54 AM
    • 656Posts
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    MarkFromCornwall
    Valuation for probate versus estate agent's valuation
    • #1
    • 11th Oct 16, 5:54 AM
    Valuation for probate versus estate agent's valuation 11th Oct 16 at 5:54 AM
    Would you expect a chartered surveyor's valuation for probate to be always higher or lower than an estate agent's valuation for marketing the property, or are they usually similar?

    Thanks in advance,
    Mark.
    Last edited by MarkFromCornwall; 11-10-2016 at 7:05 PM. Reason: Incorrect use of apostrophe!
Page 1
    • kingstreet
    • By kingstreet 11th Oct 16, 8:18 AM
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    kingstreet
    • #2
    • 11th Oct 16, 8:18 AM
    • #2
    • 11th Oct 16, 8:18 AM
    I'd expect it to be lower as the EA will proffer a marketing price and expect to achieve less.

    The surveyor will value based on comparables, the recent sold prices of similar property in the vicinity.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
    • Surrey_EA
    • By Surrey_EA 11th Oct 16, 8:28 AM
    • 598 Posts
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    Surrey_EA
    • #3
    • 11th Oct 16, 8:28 AM
    • #3
    • 11th Oct 16, 8:28 AM
    A probate valuation is an estimation of the value of the probate at the time of death, there is no need for it to be carried out by a chartered surveyor.

    Often an EA will try and tempt a seller with an optimistic figure, so I would normally expect an EAs valuation for sale to be higher then the figure given for probate.
    • Davesnave
    • By Davesnave 11th Oct 16, 8:30 AM
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    Davesnave
    • #4
    • 11th Oct 16, 8:30 AM
    • #4
    • 11th Oct 16, 8:30 AM
    However, in property, there is no 'always.'
    'Only the mediocre are always at their best.' Jean Giraudoux
    • G_M
    • By G_M 11th Oct 16, 10:43 AM
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    G_M
    • #5
    • 11th Oct 16, 10:43 AM
    • #5
    • 11th Oct 16, 10:43 AM
    When we valued a property recently for Probate we approached 4 local EAs. We asked for a recomended marketing price and then pushed each one hard for a realistic price they expected to achieve.

    Then we took an averarge and used that for Probate.

    HMRC referred our Probate value to the local District Surveyor, who accepted our valuation. Job done.
    • MarkFromCornwall
    • By MarkFromCornwall 12th Oct 16, 2:51 PM
    • 656 Posts
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    MarkFromCornwall
    • #6
    • 12th Oct 16, 2:51 PM
    • #6
    • 12th Oct 16, 2:51 PM
    Thank you all for the advice.

    Mark
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