Distritc Valuer disagrees valuation

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castle96
castle96 Posts: 2,885 Forumite
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in Deaths, funerals & probate
Hi,
deceased father's estate....Sister is executor. Employs solicitor for IHT/probate. "£2500 - £3500" ..her/sister's choice/I pay half
Solicitor says get 3 valuations for house... £325 sale/£350 market.
A month ago solicitor confirms that IHT figure has been agreed. Solicitor goes for probate (should have been done at same time as IHT ??)
Now gets a letter from solicitor to say that Dist Val has "queried" £325 figure and asking sister to confirm val/figure.
Sister is not a valuer/Estate Agent. She did what solicitor asked. If "IHT has been agreed" then assume solicitor submitted £325 figure (have asked sister to get solicitor to confirm what figure was submitted). (In this road there are £1m houses and £250k houses and everything in between).
If house is worth more, then IHT is more... (but).. "already agreed".
Surely the time for the Dist Val to 'come back', is before IHT is agreed, not after ?!
Will > "sister gets house, I get money of same val/rest split". Sister has money of her own, only wants house. The higher the valuation, the more I benefit. We both only want what is fair without an excess of IHT paying for Chinese rockets or immigration, etc. Estate is £900k approx
Solicitor seems to be getting sister to confirm something that is beyond her control. I said to sister.. "you gave to solicitor everything she asked for and now she seems to be covering her back". Sister on own, worried about fraud accusation/HMRC. She/we paid a bloo"y solicitor to do this
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  • Yorkshireman99
    Yorkshireman99 Posts: 5,470 Forumite
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    castle96 wrote: »
    Hi,
    deceased father's estate....Sister is executor. Employs solicitor for IHT/probate. "£2500 - £3500" ..her/sister's choice/I pay half
    Solicitor says get 3 valuations for house... £325 sale/£350 market.
    A month ago solicitor confirms that IHT figure has been agreed. Solicitor goes for probate (should have been done at same time as IHT ??)
    Now gets a letter from solicitor to say that Dist Val has "queried" £325 figure and asking sister to confirm val/figure.
    Sister is not a valuer/Estate Agent. She did what solicitor asked. If "IHT has been agreed" then assume solicitor submitted £325 figure (have asked sister to get solicitor to confirm what figure was submitted). (In this road there are £1m houses and £250k houses and everything in between).
    If house is worth more, then IHT is more... (but).. "already agreed".
    Surely the time for the Dist Val to 'come back', is before IHT is agreed, not after ?!
    Will > "sister gets house, I get money of same val/rest split". Sister has money of her own, only wants house. The higher the valuation, the more I benefit. We both only want what is fair without an excess of IHT paying for Chinese rockets or immigration, etc. Estate is £900k approx
    Solicitor seems to be getting sister to confirm something that is beyond her control. I said to sister.. "you gave to solicitor everything she asked for and now she seems to be covering her back". Sister on own, worried about fraud accusation/HMRC. She/we paid a bloo"y solicitor to do this
    You need a paid for valuation at date of death by a RICS surveyor. The should also negotiate with the DV.
  • Rodders53
    Rodders53 Posts: 2,152 Forumite
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    AIUI Executor should ideally have got a paid for RICS valuation of the dwelling not three guesstimates from random estate agents.
    Then RICS valuer could challenge/negotiate with District Valuer about the value.

    Perhaps that's all the DV wants? A RICS valuation at the date of death which these professionals can provide 'after the fact' if necessary, I think?
  • castle96
    castle96 Posts: 2,885 Forumite
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    4 vals, all RICS, none paid for, recommended by solicitor.
    Any answers to Q please
  • Keep_pedalling
    Keep_pedalling Posts: 16,641 Forumite
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    “We both only want what is fair without an excess of IHT paying for Chinese rockets or immigration,”

    You seem to have a very strange idea of what taxation pays for.
  • castle96
    castle96 Posts: 2,885 Forumite
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    Strange ? = Realistic

    Any answer to my Qs, or just a silly comment
  • Keep_pedalling
    Keep_pedalling Posts: 16,641 Forumite
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    castle96 wrote: »
    Strange ? = Realistic

    Any answer to my Qs, or just a silly comment

    OK, I will just have ignore the Chinese rocket thing, but you probably won’t like the answer.

    As executor your sister is still the person this all comes back to. She now needs to get a proper, paid for, valuation from a RICS surveyor. This may or may not match the original valuation she got, but It is unlikely to be challenged further.

    https://www.ricsfirms.com/?_ga=2.76877590.2006521716.1555610053-204424410.1472632484
  • lincroft1710
    lincroft1710 Posts: 17,648 Forumite
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    The DV has got involved because IHT has so instructed them, usually because of the value of the estate.
    If you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales
  • castle96
    castle96 Posts: 2,885 Forumite
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    All 4 vals were RICS. Would you be 'asked' to prove payment ? (What difference would that make ??) If (one of) them went round again, would they really value at a different figure than before ? Even if you didn't tell them they had been before and a different person from the same firm came,... shot...foot...?

    A month ago solicitor confirms that IHT figure has been agreed. Solicitor goes for probate (should have been done at same time as IHT ??)

    Solicitor seems to be getting sister to confirm something that is beyond her control. I said to sister.. "you gave to solicitor everything she asked for and now she seems to be covering her back". Sister on own, worried about fraud accusation/HMRC. She/we paid a bloo"y solicitor to do this

    If house is worth more, then IHT is more... (but).. "already agreed".

    Any A's to the Q's PLEASE
  • Yorkshireman99
    Yorkshireman99 Posts: 5,470 Forumite
    edited 18 April 2019 at 8:16PM
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    The executor/solicitor have not dealt with matters well. The professional way is to get PAID for valuation BEFORE applying for probate. Not to do so is unprofessional bordering on incompetence. Particularly where the estate value is close to IHT being possible. The solicitor needs to be challenged.

    A properly instructed and PAID valuer would do the job and discuss with his client and then deliver a written valuation with full details
  • HHarry
    HHarry Posts: 883 Forumite
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    HMRC has 12 weeks from the date they issued the letter with their initial IHT calculation (which confirms probate) to check and query the figures.

    A paid for RICS survey is the recommended way to go, but I have got away with 2 Estate Agent valuations on 3 properties.

    Your Sister now needs to argue her case with the DV.
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