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The Importance Of Accurate Probate Property Valuations In A Rising Market

December 16, 2013 By Avery Associates

There are many reports that the property market is a ‘bubble’ with prices rising due to an easing of mortgage lending and the government’s Help to Buy Schemes. With prices in flux and the Government openly stating that the economy has turned a corner, it requires greater expertise to value a property for probate purposes. Avery Associates are able to provide an RICS property valuation report for inheritance tax purposes, which is conducted by our experienced property surveyors.

When valuing our surveyors follow the HMRC guidelines when valuing a property for probate:

Case law has established the following assumptions:

1. the sale is a hypothetical sale
2. the vendor is a hypothetical, prudent and willing party to the transaction
3. the purchaser is a hypothetical, prudent and willing party to the transaction (unless considered a ‘special purchaser’)
4. for the purposes of the hypothetical sale, the vendor would divide the property to be valued into whatever natural lots would achieve the best overall price (this is the principle of ‘prudent lotting’)
5. all preliminary arrangements necessary for the sale to take place have been carried out prior to the valuation date
6. the property is offered for sale on the open market by whichever method of sale will achieve the best price
7. there is adequate publicity or advertisement before the sale takes place so that it is brought to the attention of all likely purchasers
8. the valuation should reflect the bid of any ‘special purchaser’ in the market (provided they are willing and able to purchase)

Avery Associates RICS surveyors cover the whole of London and the South East and carry out probate property valuations on a daily basis. Last month saw our highly trained surveyors visit some very interesting properties from an old cottage in Hampstead to a large mansion flat in Mayfair.

For an accurate and compliant probate property valuation report at a very competitive price call our office on 0800 567 7769.

Related

Filed Under: FAQS Tagged With: iht, property market

Our House Clearance Services

We provide a full house clearance and property management solution:

  • We clear hoarded houses, regardless how big or how cluttered
  • We clear all types and sizes of property, irrespective of location, or access is restricted or where parking is difficult or not available.
  • We can help avoid water damage by draining the central heating system.
  • We can secure the property and change the locks.
  • We can reinstate the gardens and maintain them whilst the property is empty.
  • We can provide 24 hour security to eliminate the risk of squatting or unlawful occupation.

As well normal house clearances we specialise in clutter clearance and we can clear a hoarded house which may contain years of accumulated possessions, or which have abnormal amounts of general household items, sometimes as a result of compulsive hoarding syndrome.

Equally we can help to clear a property where the occupants were previously unwell and unable to care for themselves or their property which sometimes results in insanitary, dangerous or just plain unpleasant conditions.

More info

What We Do

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Client Reviews

Margaret Campbell
Jun 24, 2022
 by Margaret Campbell on Avery Associates
Amazing Service and Support

Hello Pam / Jeffrey, As requested, sorry it is late …. I forgot☹️ I used Avery Associates for probate content valuation, clearance... Read More

Susan Arm******
Jun 2, 2022
 by Susan Arm****** on Avery Associates
Respectful Probate Valuation

Mr Avery did a wonderful job assessing the household contents for probate and I very much appreciate his respectful approach while valuing the items at... Read More

Your very welcome Susan

Patrick Macavoy
May 20, 2022
 by Patrick Macavoy on Avery Associates
A Seamless Experience

I had my late mother's flat to clear out. The contact with AA was a pleasure from day one, starting with the receptionist. Jeffrey then came out to look... Read More

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Avery Associates
291 Mitcham Rd
Tooting SW179JQ

Tel: 0800 567 7769 or 0208 640 0044

Services provided throughout London and the Home Counties. View our clearance case studies.


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