Property valuation for probate

cherry76

EA valuation £350,000 to £375,000. A house nearby sold at £365,000 without garage only drive way. Mine has got a garage attached to the house. I was going to get three valuations but have been put off by one EA who did not turn and did not bother to ring. I am going with just one valuation, shall I declare the lower valuation at £350,000? Thanks

p00hsticks

Is the estate subject to IHT ? 
What's going to happen to the property once you get probate. ?
If you intend selling it then it's best to err on the high side otherwise the estate will face a CGT liability of it sells for more than the value declared for probate....

Keep_pedalling

As above, if the estate is well below IHT territory go on the high side. If you are in or near IHT territory then it is best to get a professional valuation from a RICS surveyor. 

cherry76

It’s below IHT, not selling mum is the life tenant. Getting probate for dad.

Keep_pedalling

cherry76 said:

It’s below IHT, not selling mum is the life tenant. Getting probate for dad.

In which case you don’t have to be that accurate as it is covered be spousal exemption unless they weren’t married.