Obtaining House Valuation for Probate

vonsworld

Hello
I need to obtain a written house valuation for a probate application. Is this something that's done by Estate Agents and how much do they charge please?

Is it best to get more than one valuation?

Thanks

Keep_pedalling

What you do depends very much if the estate is going to be subject to inheritance tax or not. If the estate is safely out of IHT territory then get 3 EA valuations and go with the highest to minimise any potential CGT liability when it is eventually sold.

If the estate is going to have to pay IHT then get a paid valuation from a RICS qualified surveyor. 

https://www.rics.org/networking/find-a-member

vonsworld

I'm sure to be missing something here, but isn't the CGT rate of tax less than IHT?

Therefore if the house goes up in value by the time it's sold, then isn't it better just to pay the CGT?

km1500

not if the estate value means no iht to pay

but if iht payable then yes, cgt is less than iht

p00hsticks

If the plan is to sell the property as soon as probate is obtained, then estate agents will probably give you a valuation for free - get several.