Property Valuations for Probate
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As RICS Chartered Surveyors, we provide a range of specialist probate services to Executors, Solicitors and Administrators, providing best care and fairest pricing within a mostly unregulated industry.
‘Samson Consultants Probate’ Network
Our ‘Samson Consultants Probate’ network consists of leading UK probate specialists who have collectively handled over 30,000 cases. The network provides a range of professional services for solicitors, executors and administrators, allowing clients to select support for specific stages of the probate process, from valuations and insurance to beneficiary tracing. Each case is managed by a dedicated expert, ensuring a professional and sensitive approach throughout. All network members are regulated within their respective sectors, giving clients confidence in receiving high-quality service and fair pricing in an otherwise largely unregulated industry.
Probate Sales
Samson Consultants Probate has an agency department that specialises in facilitating the sale of properties that specifically fall into probate. The ability to offer an all-inclusive valuation and selling service is invaluable to our clients who seek the assurance of our experience and specialist knowledge as an independent group of professional Chartered Surveyors. With over 5000 cases handled by our leadership team, our expertise is unparalleled.
The Samson Consultants have a nationwide department that specialises in facilitating the sale of properties that specifically fall into Probate. Our ability to offer an all-inclusive valuation and selling service is invaluable to our clients who seek the assurance of our experience and specialist knowledge as an independent firm of professional Chartered Surveyors who are market leaders in Probate matters.
What is Probate?
Valuing a property for probate
When someone dies, probate must be granted before their estate can be distributed to beneficiaries. As part of this process, all assets and liabilities, including residential property, must be valued and reported to HMRC. Depending on the total value of the estate, inheritance tax (IHT) may be payable. If HMRC believes a property has been incorrectly valued, it can open an investigation, making it essential that probate valuations are accurate and properly supported.
Property is often the largest asset in an estate, but unlike cash or shares, it does not have a fixed value. For probate purposes, the value is defined as the price the property might reasonably achieve if sold on the open market to a willing buyer on the date of transfer. This is usually the date of death, although different rules apply if the property was gifted within the previous seven years.
Who arranges the valuation?
The responsibility for valuing a property lies with the personal representatives of the deceased. This is typically the executor named in the will, or an administrator if no will exists. Executors may be beneficiaries themselves or third parties such as solicitors.
What should be taken into account?
A probate valuation must reflect all factors that could affect market value. These include whether the property is leasehold and the remaining lease length, any existing tenancies and rental terms, legal restrictions such as covenants or easements, and whether the property is jointly owned. Development potential or “hope value” should also be considered, even if planning permission has not yet been sought. If an estate includes multiple properties, each must be valued individually at fair market value.
Who should carry out the valuation?
HMRC recommends obtaining a professional valuation for assets worth over £1,500, unless the estate is small or passes entirely to a spouse or civil partner. In many cases, a local estate agent’s valuation may be sufficient, particularly for lower-value and straightforward properties where IHT is unlikely. However, care should be taken to ensure the valuation reflects realistic market value rather than an inflated asking price.
For higher-value, complex or unusual properties, or where inheritance tax is expected to be payable, a formal valuation from a RICS-qualified surveyor is often advisable. A RICS “Red Book” valuation follows recognised professional standards and is far less likely to be challenged by HMRC, helping to reduce the risk of disputes, delays and additional costs.
Getting a probate valuation
Whether you need an estate agent valuation or a formal RICS Red Book valuation, Samson can arrange a suitable valuation and ensure it is completed and presented correctly for probate purposes.
With over 5000 Probate cases handled by our leadership team, our experience and expertise includes:
Advising on the best method of sale (open market, auction or private investor) which will enhance the value of the property, achieve the best price for the estate and satisfy all beneficiaries and HMRC that a true market value has been achieved
Invaluable tips to avoid an HMRC investigation post sale ✓
Clearing the property and preparing the property for sale ✓
Preparing marketing material and advertising the property via the most appropriate method ✓
Managing viewings and open house events in order to generate strong offers ✓
Qualifying offers, negotiating and agreeing the terms of any sale on the beneficiary’s behalf ✓
Regular monitoring and communication with all parties during the sale process through to completion ✓
Our Probate Service
Our Inheritance Tax/Probate Valuations Service
Probate valuation dates are often retrospective and can date back many years, so require skill and judgment to arrive at an accurate figure. In the past, when selling residential property after a grant of probate, personal representatives often asked the selling agent for a letter of advice about a realistic selling price. This would be used this as a 'provisional estimate' for IHT.
This approach is now largely redundant. Samson Chartered Surveyors will undertake a site inspection, measure floor areas, check known databases for comparable evidence and provide a detailed written valuation suitable for submission to HMRC.
Why get a Inheritance Tax/Probate Valuation?
HMRC now strongly recommend that a professional valuer is used to ensure the valuation is as accurate as possible and based on their view that; "There can be no assurance that a valuation from a selling estate agent will be sufficient. If there is an undervaluation, there is no guarantee that there will be no penalty although penalties will not be charged where the method of valuation is reasonable and proportionate in the circumstances." As two of the Directors at Samson Chartered Surveyors are Revenue trained, with many years of experience gained at the District Valuers Office, their knowledge and experience is invaluable when preparing a valuation for Inheritance Tax.
Inheritance Tax/Probate Valuation Summary
The valuation forms an important part of the probate process and should be carried out by a professional valuer as this is more likely to satisfy HMRC.
AIt involves a site visit ✓
The property is measured and photographed ✓
Detailed research on comparable evidence is undertaken as required ✓
A detailed written report is provided ✓
Post valuation support is provided by phone and email ✓
We can assist with negotiations with HMRC ✓
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Property and Contents Valuation
Our sister company, Samson Consultants Probate, has a market-leading team of RICS Registered Valuers who specialise in handling 1000’s of (RICS Red Book) Property and Contents Probate Valuations each year. Our group's surveyors are Probate experts and trusted by the District Valuer Services (DVS) who are the specialist property arm of HMRC (the Valuation Office Agency). We leave our clients feeling secure that they have done all in their power to avoid an HMRC investigation, whilst receiving professional valuation reports that are justified, as best as we can, to assist their tax positions.
Our Probate Specialist Services
The Samson Consultants has a market-leading team of RICS Registered Valuers who specialise in handling 1000’s of (RICS Red Book) Property and Contents Probate Valuations each year, always with sensitivity and professionalism during a challenging time.
We are proud to be recognised as national Probate (IHT) Valuation experts and an authority in the industry. Please check out our latest Mail Online article here.
We are also founders of The Samson Consultants Probate Network, an association of the UK’s leading Probate specialist firms, who have successfully handled over 30,000 probate cases, and provide their diverse professional services to our clients who are Solicitors, Executors and Administrators.
Our surveyors are Probate experts and trusted by the District Valuer Services (‘DV’) who are the specialist valuation arm of HMRC (the Valuation Office Agency). We leave our clients feeling secure that they have done all in their power to avoid an HMRC investigation, whilst receiving professional valuation reports that are justified, as best as we can, to assist their tax positions.
Market Leaders
Property: A team of expert RICS Registered Valuers with experience of signing off over 1000 Red Book property valuations per year
Contents: A team of the most highly trained contents valuers in the UK, along with a network of highly respected auctioneers to provide support, if required, when valuing rare / unique items
Reductions on our costs if instructed on both the property and contents valuation (with a single appointment time to make it easier for our clients)
Universally-recognised RICS Red Book Valuation Reports which are the highest standard in Valuation, meeting stringent professional RICS standards
Serving over 350 legal firms as their chosen Probate Valuers
Extremely competitive pricing and precise reports
If required, District Valuer Services (DV) interventions and negotiations
