When a person dies their estate must be valued so that any inheritance tax that is owed can be calculated. An inheritance tax (probate) valuation will be an accurate reflection of what the property would sell for on the open market on the date that the owner died and is prepared in accordance with the guidelines laid down in the RICS Red Book.
We can advise you on how much you should insure your property for in case it is damaged by fire, flooding or some other insured peril. The valuation figure is based on the cost of demolition, reinstating the property. It includes all relevant professional fees but ignores the value of the land. These valuations are carried out on single houses, flats and purpose-built or converted blocks.
Many tenants or shared ownership occupiers are now buying their property from a Local Authority or Housing Associations or increasing the share that they own. Increasingly we are carrying out Valuations for clients who have purchased their property through the Homebuy Direct schemes. We are familiar with the requirements of these Valuations.