VALUER
REPORT STANDARD
SOLICITOR LIAISON
REPORT TURNAROUND
What Is a Probate Valuation?
An inheritance tax valuation, also known as a probate valuation, determines the market value of a property at the date of death. This figure is used to calculate whether inheritance tax is due on the estate and, if so, how much must be paid before assets can be distributed to beneficiaries.
We understand this is a difficult time, so we handle everything sensitively and efficiently, providing clear explanations and support throughout the process.
What HMRC Requires
HMRC requires that properties are valued at “open market value” — the price the property would reasonably fetch if sold on the open market at the date of death. This must be done by a qualified professional. Getting it wrong has consequences in both directions: undervalue and the estate risks penalties; overvalue and it may pay more tax than necessary, reducing what beneficiaries receive.
Open market value at the date of death
Not today’s value — the value on the day the person passed away, supported by comparable sales from that time.
A Red Book valuation report
Prepared by a RICS Registered Valuer to the Red Book standard — robust evidence that HMRC will accept and that protects executors from potential liability.
The inheritance tax thresholds
Inheritance tax may be due when the estate exceeds £325,000 — or £500,000 when a home is left to direct descendants.
When You Need One
Before making an offer
Ensure you’re not overpaying for a property — and negotiate armed with professional evidence of market value.
Before listing your home
Set a realistic asking price based on what the market will actually pay.
Financial planning
Understand your property equity and net worth — or simply satisfy your curiosity with a real figure.
Divorce discussions
Fairly divide property assets with an independent figure both sides can rely on.
CONSIDERED IN YOUR VALUATION
- Location, size and condition of the property
- Local market conditions at the date of death
- Comparable sales from the relevant period
- A clear explanation of the evidence and method
What Your Valuation Report Includes
A RICS Registered Valuer inspects the property and considers everything that affects its value at the date of death. You receive a comprehensive Red Book valuation report that meets HMRC’s requirements and stands up to scrutiny.
How Repaying Your Equity Loan Works
Tell us what you need
A short call or email is enough — we’ll explain the process and arrange access at a time that suits the family.
We value the property
A RICS Registered Valuer inspects and prepares the HMRC-compliant report — handled sensitively throughout.
We liaise with your solicitor
The report goes where it needs to go — we deal directly with the solicitor administering the estate if you’d like us to.
THE RED BOOK STANDARD
What a Red Book Valuation Means
Every valuation we provide is carried out by a RICS Registered Valuer and reported to the RICS Valuation — Global Standards, known as the “Red Book”. That’s what makes the figure defensible: a consistent, evidence-based method, comparable sales, and a report format that institutions trust.
- ✓ RICS Registered Valuer
- ✓ Red Book methodology
- ✓ Accepted by HMRC, lenders, housing associations & courts
Probate Valuation FAQs
Is an estate agent estimate enough for HMRC?
Sometimes, for estates comfortably below the inheritance tax threshold. But where IHT could be due — or the estate is anywhere near the line — HMRC expects the property valued at open market value as at the date of death, and a RICS Red Book valuation is the standard that meets it. It matters because executors are personally responsible for the accuracy of the figures they submit: an informal estimate that turns out to be wrong can mean penalties, or tax paid that wasn’t owed. A professional valuation settles the question once, with evidence.
What if HMRC's District Valuer challenges the figure?
It happens — HMRC’s Valuation Office Agency reviews property figures on some estates. A Red Book valuation is your protection here: the figure comes with comparable sales evidence and a documented method, which is exactly what the District Valuer wants to see. If a query is raised, we respond on your behalf — supporting the figure with the evidence behind it and dealing with the VOA directly, so it doesn’t become another thing on your list.
How quickly can you inspect?
Usually within days — and we arrange everything around the circumstances, including key collection and access to an empty property. There’s no urgency from our side and no pressure on yours: probate has its own timescales, and we fit into them. If your solicitor is working to a particular deadline for the IHT account, let us know and we’ll plan the inspection and report around it.
Do you deal with the solicitor directly?
Yes, whenever that’s easier for you. Many executors ask us to work directly with the probate solicitor — sharing the report, answering queries, and providing anything further HMRC asks for — so you don’t have to relay information back and forth. Just give us their details when you book, and copy yourself in as much or as little as you’d like.
Can you value a property retrospectively, after the date of death?
Yes — this is entirely normal. Probate valuations are always “as at” the date of death, however much time has passed before we’re instructed. We research the market as it stood on that date, using comparable sales from that period, and report on a Red Book basis HMRC will accept. If some months have gone by, or the property has since been sold for a different figure, that doesn’t cause a problem — the valuation reflects the date that matters.