Valuation for probate versus estate agent's valuation

MarkFromCornwall

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.

kingstreet

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.

Surrey_EA

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

However, in property, there is no 'always.'

G_M

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

Thank you all for the advice.

Mark