The valuation of a property is an essential part of applying for probate after someone dies. It is often a tough time for families and friends, but it’s a process that needs to be followed before an estate can be distributed.

Our advice is to instruct a professional like our qualified team at Hawkesford. Often the property is the most valuable asset in an estate, so it’s vital that the executors avoid any risk by having the valuation professionally handled. If the estate is substantial, then you may get involved in negotiations with HMRC – even more reason to have an experienced professional behind you. 

Obtaining an accurate valuation will save you time and worry. It may be tempting to apply a low valuation, but HMRC will often challenge what they see as artificially low valuations. Figures from 2011 show that HMRC raised £88m in tax during the year in challenging and readjusting probate valuations. Not only will HMRC land you with a higher tax bill, they may fine you if they think you have been negligent in applying an unrealistic valuation. This is the last thing you need during an often sensitive and sad time for your family.

Simply using an estate agent’s valuation leaves you open to scrutiny from HMRC,  however if we or another Chartered Surveyor is instructed to value the property, the valuation office will negotiate with us.

We realise you will probably be going through a challenging time and we will work with you sensitively and professionally, allowing a smooth process and one that results in the fairest outcome for you and your family.

Get in touch now for advice and information on our valuation service.

Five percent of sellers are going on the web to sell their homes and this figure is rising; but while online estate agents may be cheaper – they come second place to high street agencies in important areas.

Let’s think about sale price first. High Street agents use a percentage-based commission, which gives us the incentive to negotiate the highest price possible for your property. We also only charge when there’s a sale. Online estate agents use fixed fees, normally charged up front. They’ll charge you more if you want to pay on completion. And once they’ve got your money, why would they strive to get the highest sale price possible?

Do you know the real value of your home? Online agents are unlikely to. They’ll probably use a centralised call centre or administrative office to enter your postcode and work out your valuation. A local High Street agent will know your area and, importantly, what future changes and patterns are emerging in the local market.

Selling houses is a complicated, often stressful experience. Having a good local estate agent behind you will help move things along and help remove some of the hassle of selling your home. We will vet buyers’ financial positions, arrange viewings and give you honest feedback. When the sale is going through we’ll deal with solicitors and legal matters on your behalf. Go online and this is all down to you. Online estate agents list your home on the property portals and then just pass on buyers’ details. Anything else and you’ll probably pay extra. And even then, it may not be the actual company that vets your buyers – some use third party contractors to do this.

So, think carefully before signing up to web-based estate agents. It will probably save you money in fees, but may cost you in sale price, time and extra stress. Don’t forget the value of personal face-to face service. Do you really want the biggest financial transaction of your life to be done online?