A valuation is required as at the date of passing by executors of the estate, to ascertain the true independant value of a property.
An independant RICS valuation provides the most accurate valuation for you to rely upon in your position as executor.
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What's the purpose of a probate valuation?
It can be a difficult time during probate, with lots of new challenges being forced upon you. Our core values being honest, approachable experts means our surveyors have empathy towards your situation. It is important an accurate valuation is undertaken as at the date of passing not only to assess probate taxation but also to protect you with future potential capital gains taxation should you decide to keep the property.
Our valuation surveyors provide accurate reporting in a prompt manner and can liaise directly with your legal advisors where required. We also undertake retrospective valuations if the date was some time ago.
As our surveyors are local experts we also know which local estate agents we consider best placed to serve you should you wish to sell. We can explain the differences of using a local estate agent, online agent or auction service. We are here to help you through this stressful period, providing you with trust and confidence to embark on the sales process.
What is probate?
Probate is the process of dealing with the estate of someone who has died - which generally means clearing their debts and distributing their assets in accordance with their will.
What is capital gains tax?
Capital gains tax (cgt) is payable when you sell an asset that has increased in value since you bought it. The rate varies based on a number of factors, such as your income and size of gain. For residential property it may be 18% or 28% of the gain (not the total sale price).