Probate

House valuations for probate, without the stress

Losing someone close to you is hard enough without HMRC paperwork. A house valuation for probate is the formal, date-of-death valuation of the property that executors need to apply for probate and settle inheritance tax — and our panel of RICS Registered Valuers delivers it quickly, sensitively and to the standard HMRC accepts.

Do you need an official house valuation for probate?

Yes — where inheritance tax may be due, HMRC expects a formal RICS “Red Book” valuation of the property at the date of death, not an estate agent's estimate. For small estates clearly below the IHT threshold an informal estimate is sometimes tolerated, but if the estate is anywhere near the threshold, an official valuation protects the executors: agents' appraisals carry no liability, and HMRC's District Valuer can and does challenge figures that look convenient.

Market Value at the date of death

Probate valuations are prepared on a specific statutory footing: the open market value of the property at the date of death, as required by section 160 of the Inheritance Tax Act 1984. That means the valuer is valuing the property as it stood on that date — its condition, its tenure, any sitting tenants — using sales evidence from around that time, even if the report is being prepared months later. It is a retrospective exercise, and it is exactly where informal estimates fall down: an agent's opinion of what the house might fetch today is not the figure the IHT return requires.

What a probate valuation includes

Your Registered Valuer inspects the property, researches comparable sales around the date of death, and issues a signed RICS Red Book valuation report stating the Market Value at the valuation date — with the evidence and professional liability that make it defensible if HMRC raises questions. Where the deceased owned a share of a property, the report can also address the discount applied to jointly owned shares — see our guide to inheritance tax on jointly owned property.

How the valuer builds a defensible figure

A probate figure that survives scrutiny is built, not guessed. The valuer records the property's condition and any disrepair at the date of death (which legitimately affects value), analyses genuinely comparable sales rather than asking prices, and flags anything that changes the analysis — development potential or “hope value” a District Valuer would expect to see acknowledged, tenancies, agricultural or business use, or a title split across several interests. Executors sometimes feel pulled between a low figure (less IHT now) and a high one (less CGT later); the valuer's job is to land on the evidenced Market Value, which is the only figure that protects you in both directions.

Probate valuation and capital gains tax

The probate value does a second job long after the estate is settled: it becomes the acquisition cost for capital gains tax when the property is later sold by the estate or the beneficiaries. Sell for more than the probate value and the gain above it is potentially taxable; and where a sale shortly after death achieves materially more than the figure returned, HMRC may look again at the original valuation. Conversely, if the property sells for less within the statutory period, the executors may be able to claim relief against the IHT already paid. A robust date-of-death valuation therefore matters twice — which is worth remembering before anyone reaches for a free appraisal.

How much does a probate valuation cost, and how fast?

Standard residential probate valuations cost from £250, fixed and quoted before instruction. Inspections are usually arranged within a week — vacant properties often sooner — and the signed report follows within 3–5 working days. Court or solicitor deadlines can usually be accommodated: tell us the date and we will confirm before you instruct.

How it works for executors

1. Tell us about the property — address, approximate value, the date of death and any deadline — and we quote a fixed fee.
2. Access is arranged around you — via the executor, a family member, the estate agent or a key-holder; vacant properties are straightforward.
3. Inspection and evidence — the valuer inspects and researches comparable sales around the date of death.
4. Signed report — a Red Book valuation addressed for probate purposes, ready to pass to your solicitor or include with the IHT forms. If the estate later needs a second figure — a jointly owned share, a retrospective CGT valuation — the same valuer can usually deal with it.

If the valuation is challenged

Where a probate figure is disputed — by HMRC, between beneficiaries, or in litigation — the same panel provides expert witness valuers, so your evidence doesn't need rebuilding by a second firm.

The panel provides probate valuations across London, Manchester, Birmingham, Leeds, Bristol, Chester and 100+ UK locations, alongside the full range of RICS Red Book valuation services. Get a fixed probate valuation quote →