Probate - Estate Valuations - is RICS necessary?

Hermia

LutonGirl wrote: »

Some of it has to be pure guesswork, for example, the value of the home contents. Without knowing the actual price and depreciation of every blessed thing in the home, how can you tell accurately? We worked on the assumption that they would question us if something seemed massively out of kilter.

I put £500 as that figure was mentioned on several forum discussions I read. My mum's furniture was all cheap flatpack and her electronics were old. There wasn't much in the way of jewellery and no heirlooms. I do a lot of ebaying and I looked at what I realistically would get for things and realised that £500 was fairly accurate.

Mojisola

Hermia wrote: »

I put £500 as that figure was mentioned on several forum discussions I read. My mum's furniture was all cheap flatpack and her electronics were old. There wasn't much in the way of jewellery and no heirlooms. I do a lot of ebaying and I looked at what I realistically would get for things and realised that £500 was fairly accurate.

The solicitor who dealt with my uncle's estate did the same. I think he put £500 down as well - a nominal sum, no need to value each item of furniture.

LutonGirl

How are you getting on Daniel987? I went to the Probate court last Wednesday and spent more time in the waiting room than on the actually oath! The clerk says I should have the papers through in ten working days.

LutonGirl

I am pleased to report that the grants of probate arrived today - that's 5 working days since court! 10/10 to the Probate Registry at Holborn.

pattycake

I need a valuation for my father's house. It is an end terrace probably worth around £120-£150K. I asked one estate agent and they wanted £150 plus VAT. I then tried another one who said that an estate agent's assessment should suffice. The total value of the estate will not be any where near the IHT threshold.

We are hoping to do the probate ourselves. My brother has got cold feet so I think it will all be up to me. I am going to give it my best shot any way after we were charged £4K to get probate for my mother's will. The solicitor took a year to do it too!