Probate Valuation
A RICS Red Book valuation prepared for probate purposes, establishing the market value of a residential property at the date of death for Inheritance Tax and grant of probate.
Every probate valuation is prepared by an RICS Registered Valuer and follows the RICS Valuation — Global Standards (the "Red Book"). Accepted by HMRC, the Probate Registry and solicitors handling estate administration. We provide a sensitive, professional service at what is often a difficult time for families and executors.
Probate Valuation at a Glance
Our Home Surveyor & Property Valuer Accreditation & Professional Membership
Our Probate Valuations are carried out by qualified surveyors who belong to the professional bodies that set UK property standards. Every report is prepared to recognised guidance and is completely independent, so you can rely on the findings when you buy, sell or value a home.
What Is a Probate Valuation?
When a person passes away, the executors or administrators of the estate must establish the value of all assets — including any residential property — as at the date of death. This is required to calculate any Inheritance Tax liability and to apply for the grant of probate (or letters of administration where there is no will). A probate valuation is a formal, independent valuation of the deceased's property produced for this specific purpose.
What a Probate Valuation Covers
- A full internal and external inspection of the property
- A detailed description: location, accommodation, construction, condition and tenure
- An assessment of the property's condition at the valuation date
- The market value as at the date of death
- Comparable market evidence supporting the valuation
- A RICS Red Book compliant report suitable for HMRC and the Probate Registry
- Photographs of the property included in the report
What It Does Not Cover
- A detailed building survey or structural assessment
- Defect diagnosis or repair advice
- Testing of services (gas, electric, water, drainage)
- An estate agent's market appraisal or informal estimate
- Valuation of contents or chattels within the property
Why You Need a Formal Probate Valuation
Using an estate agent's market appraisal for probate is one of the most common — and costly — mistakes made by executors. Here is why a formal RICS Red Book probate valuation is essential.
HMRC & Probate Registry Requirement
HMRC and the Probate Registry expect a formal RICS Red Book valuation prepared by an RICS Registered Valuer. An estate agent's market appraisal is not a formal valuation — it is an informal sales estimate that carries no professional liability and is not prepared to the standards required by HMRC. Using an informal figure can lead to HMRC rejecting the valuation, challenging the Inheritance Tax calculation and potentially imposing penalties if the figure is found to be materially inaccurate.
Professional Indemnity Insurance
An RICS Registered Valuer carries mandatory professional indemnity insurance. If the valuation is challenged or found to be negligent, there is recourse through RICS and the valuer's insurers. An estate agent's market appraisal carries no such protection — if the figure is wrong, the executor (not the agent) is liable for any resulting underpaid tax, interest and penalties.
Defensible Market Value
The Red Book valuation provides a reasoned, evidence-based opinion of market value supported by comparable sales data. If HMRC queries the valuation — and HMRC routinely queries probate valuations where more than £325,000 of Inheritance Tax nil-rate band is at stake — the valuer can provide supporting evidence and defend the figure. An informal estate agent's appraisal has no such evidential basis.
Executor's Fiduciary Duty
As an executor or administrator, you have a legal duty to administer the estate correctly. This includes accurately valuing all assets and paying the correct amount of Inheritance Tax. Using a formal RICS Red Book valuation demonstrates that you have exercised due diligence in valuing the property — protecting you personally from HMRC challenge and from beneficiaries who might later dispute the valuation.
What Makes Our Probate Valuation Different
Every probate valuation we produce is designed to meet the specific requirements of probate and estate administration — not a generic valuation repurposed for probate.
RICS Red Book Compliant — Accepted by HMRC & the Probate Registry
Every probate valuation is prepared in accordance with the RICS Valuation — Global Standards (the 'Red Book'), the definitive professional standard for property valuations. It is accepted by HMRC, the Probate Registry and all solicitors handling estate administration.
Valuation as at the Date of Death
The valuation establishes the market value of the property as at the precise date of death — not the current date, unless the two are the same. This is critical for Inheritance Tax purposes, as the tax is calculated on the asset values at the date of death. If the property is sold later for more or less, the probate value remains the relevant figure for tax.
Prepared by an RICS Registered Valuer
Every probate valuation is personally prepared and signed by an RICS Registered Valuer — a valuer whose qualifications, experience and professional integrity have been independently assessed and are regularly reviewed by RICS. This is what HMRC and the Probate Registry require.
Sensitive, Professional Service at a Difficult Time
We understand that probate valuations are often needed at a difficult and emotional time for families. We handle every instruction with sensitivity, discretion and professionalism. The valuer will liaise with the executor, solicitor or family member as appropriate and can work around access arrangements for occupied or empty properties.
Can Be Combined with an Inheritance Tax Valuation
If you also need a formal Inheritance Tax valuation — for example, where a house, flat or other residential property needs to be valued for IHT400 purposes — we can combine this with the probate valuation in a single instruction. Both valuations are RICS Red Book compliant and can be delivered as a combined report, saving you time and cost.
Retrospective Date of Death Valuation
Where the date of death is in the past — sometimes months or even years earlier — we can still provide a formal probate valuation. The valuer researches the market conditions at the relevant date, identifies comparable sales evidence from that period and arrives at an evidence-based opinion of value as at the date of death. This is a common scenario and one we handle regularly.
When Is a Probate Valuation Needed?
A probate valuation is required whenever a residential property forms part of a deceased person's estate and the executors or administrators need to establish the property's value for Inheritance Tax and grant of probate. It is also commonly needed in the following specific situations.
Suitable For
- Executors and administrators of estates
- Solicitors handling probate
- All residential property types
- Where the date of death is in the past (retrospective probate valuation)
Not Suitable For
- Informal estimates for family discussion (though we can provide these alongside the formal valuation)
Not sure whether you need a probate valuation or a different type of valuation? Speak to a valuer for free, no-obligation advice.
How the Probate Valuation Process Works
From instruction to completed report — straightforward, professional and handled with sensitivity.
Instruct Us
Contact us with the property address, the date of death and the name of the executor or solicitor handling the estate. We respond within 24 hours with a fixed-price quote and confirmation of what is needed.
Arrange Access
We work with the executor, solicitor or family to arrange access to the property. If the property is empty, we can coordinate key collection from a neighbour, family member or estate agent.
Valuer Inspects
The RICS Registered Valuer visits the property, inspects it inside and out, measures accommodation and assesses all factors affecting value at the date of death.
Receive Your Report
Your completed RICS Red Book probate valuation report is delivered by email within 5 working days of the inspection, ready for submission to HMRC and the Probate Registry.
Executor and Administrator Responsibilities
If you are an executor or administrator of an estate, it is important to understand your legal obligations regarding the valuation of property.
Accurate Asset Valuation
As an executor, you are legally required to value all assets of the estate accurately for Inheritance Tax purposes. For residential property, HMRC expects a formal valuation from an RICS Registered Valuer — not an informal estate agent's appraisal. If HMRC believes the valuation is materially inaccurate, it can impose penalties on the executor personally.
Inheritance Tax Calculation
The property value as at the date of death is a key input into the Inheritance Tax calculation on form IHT400. Inheritance Tax is payable at 40% on the value of the estate above the nil-rate band (currently £325,000) — so getting the property valuation right is critical to calculating the correct tax liability.
Grant of Probate Application
You cannot obtain the grant of probate — the legal document that gives you the authority to administer the estate and sell or transfer the property — without first submitting the Inheritance Tax account to HMRC. The property valuation is a required part of this submission.
Capital Gains Tax on Sale
If the property is sold by the estate for more than the probate value, the estate may be liable for Capital Gains Tax on the gain. Having a robust, defensible probate valuation is therefore important not only for Inheritance Tax but also for managing any future Capital Gains Tax exposure on the estate's disposal of the property.
This information is for general guidance only and does not constitute legal or tax advice. You should always consult a solicitor or qualified tax adviser regarding your specific circumstances.
Probate Valuation Questions
Does the probate valuation need to be a RICS Red Book valuation?
HMRC and the Probate Registry strongly expect a RICS Red Book valuation prepared by an RICS Registered Valuer for probate purposes. An estate agent's market appraisal is not sufficient — it is not a formal valuation and does not carry the professional indemnity insurance or regulatory oversight of a RICS Registered Valuer's report. Using an estate agent's figure for probate can lead to HMRC challenging the valuation and potentially imposing penalties if the figure is found to be materially wrong.
How quickly can you provide a probate valuation?
We understand that probate is time-sensitive and we prioritise probate instructions. We can typically inspect the property within 5 working days and deliver the formal valuation report within 5 working days of the inspection. If the matter is urgent, please let us know and we will do everything we can to accommodate your timeline.
Can you value the property if it is empty?
Yes. We regularly value empty properties for probate purposes. Access arrangements need to be made by the executor or solicitor — typically via the family, a neighbour with a key or an estate agent holding the keys. If the property is empty and unmaintained, the valuation will reflect its condition at the valuation date.
What if the date of death was in the past — can you still value the property?
Yes. Retrospective probate valuations — where the date of death is months or even several years in the past — are a common part of our work. The RICS Registered Valuer researches the property market conditions at the relevant date, gathers comparable sales evidence from that period and arrives at an evidence-based opinion of market value as at the date of death. The methodology is the same as for a current-date valuation; the only difference is that the relevant market evidence is historical rather than current.
How much does a probate valuation cost?
A residential probate valuation typically costs from £1200 ex VAT depending on the property type, size and location. We provide a fixed-price quote within 24 hours of your enquiry. The price we quote is the price you pay — no hidden extras and no travel surcharges within our seven-county coverage area.
Can you provide the probate valuation and an Inheritance Tax valuation together?
Yes. We can combine a probate valuation with a formal Inheritance Tax valuation in a single instruction, saving you time and cost. Both valuations are RICS Red Book compliant and can be delivered in a single combined report. Please mention this when you contact us and we will quote accordingly.
What is the difference between a probate valuation and a probate property valuation for a house clearance or sale?
A probate valuation for Inheritance Tax and grant of probate establishes the market value of the property as at the date of death for tax and legal purposes. This is a formal RICS Red Book valuation. A house clearance or sale valuation is an entirely different matter — an estate agent can provide a market appraisal for sale purposes once probate has been granted. If you need the property sold, we recommend instructing an estate agent separately once the grant of probate has been obtained. Some executors also ask us to provide a separate valuation for sale guidance alongside the formal probate valuation; this can be arranged on request.
Which areas do you cover for probate valuations?
We cover all seven of our core counties for probate valuations: Bedfordshire, Buckinghamshire, Cambridgeshire, Hertfordshire, Northamptonshire, Greater London and Oxfordshire. If the property is outside these counties, please contact us — we may still be able to help depending on the location.
Get a Probate Valuation Quote
Free, no-obligation quote within 24 hours. Prepared by an RICS Registered Valuer and delivered within 5 working days. Sensitive, professional service for executors, administrators and solicitors.