What is a probate valuation?
A valuation report for Probate purposes is utilised to help determine the market value of a deceased estate on behalf of the beneficiaries. Before selling or transferring ownership of the family home or property asset, it is wise to engage an independent property valuer to assess the value of the property in question.
Part of the duties of an executor (or administrator) of a will is to value the entire estate, including the deceased’s property. An executor will be required to provide an estimate of the total value of all the assets (property/chattels etc), so that tax liabilities can be correctly assessed. A probate property valuation report is also commonly used to help identify the fair market value of a deceased estate on behalf of the beneficiaries.
Why a Valuation Report for Probate?
Deceased estates and probate property settlements can be the cause of disagreements amongst beneficiaries so it is wise to get independent advice. Probate valuations can also be backdated to ‘date of death’. This is also called a Retrospective Valuation. To assist with disputes between beneficiaries of an estate we can confirm fair market value at a specific date.
During a very sensitive time, we endeavour to be transparent with our communication and remain at all times flexible to suit our clients needs.
With a deep knowledge of the local market, we will provide accurate and independent advice with the ability to deliver finalised reports within 2-3 working days after inspection.
Whether it is a single residential holding, a commercial, industrial, retail, or lifestyle holding, we can provide the specialised advice you require.