Applying for Confirmation (Scotland)

MrsF34

Hello,

I have printed off the forms for applying for Confirmation in relation to my mums property. There is a question that asks for total estate for Confirmation. My mum bought her flat in 2004 for £52,000 but obviously the price has changed in the following years. To answer that question do I need to get her flat valued or what figure do I put in that box?

Any help is appreciated. I called her bank who the mortgage is with and they could only say what mortgage was left and that’s not the figure needed.

Thanks Natalie

Owain_Moneysaver

You need to get a current valuation. If you're not close to the Inheritance Tax threshold then a marketing appraisal from an estate agent should suffice.

If you are close to the Inheritance Tax threshold then get a valuation from a RICS surveyor, which will cost £50 - £100 depending on the property type and location.

MrsF34

Thanks for that. It isn’t near the inheritance tax threshold. I have now booked for a valuation.

Thank you

Yorkshireman99

Owain_Moneysaver wrote: »

You need to get a current valuation. If you're not close to the Inheritance Tax threshold then a marketing appraisal from an estate agent should suffice.

If you are close to the Inheritance Tax threshold then get a valuation from a RICS surveyor, which will cost £50 - £100 depending on the property type and location.

You will not get a professional RICS valuation for such a low sum. £50-100 would not even cover the surveyors costs let upwards.

eddyinfreehold

I tend to agree with Yorkshireman here, as always he's pretty bob on the case. Our RICS surveys in an out of the way and very economical area of West Wales cost £250 a plus VAT ... but they were very thorough, examined every inch of the property and provided a photographed and dimensioned report and a two page description of all the furniture and chattels.

Yorkshireman99

You are too kind but thanks anyway!

PS I think you were undercharged.