RICS Probate Valuations
Handling a probate estate that includes a property can be challenging, particularly when the legal and financial responsibilities fall on an executor. A key part of the process is establishing an accurate value for the property at the date of death. This value informs inheritance tax calculations, estate distribution, and the information reported to HM Revenue & Customs.
At David Cosby, our Chartered Surveyors provide formal RICS Red Book probate valuations for executors, beneficiaries and probate solicitors across Northamptonshire. Our experience in surveying, property law and estate agency practice means we can offer clear, reliable guidance at each stage.
Handling a probate estate that includes a property can be challenging, particularly when the legal and financial responsibilities fall on an executor. A key part of the process is establishing an accurate value for the property at the date of death. This value informs inheritance tax calculations, estate distribution, and the information reported to HM Revenue & Customs.
At David Cosby, our Chartered Surveyors provide formal RICS Red Book probate valuations for executors, beneficiaries and probate solicitors across Northamptonshire. Our experience in surveying, property law and estate agency practice means we can offer clear, reliable guidance at each stage.
Established 2003
David Cosby Chartered Surveyors have been providing professional property valuation and surveying services for over two decades. Our experience includes delivering accurate probate valuations for executors, beneficiaries and solicitors across Northamptonshire.
What Is a Probate Valuation?
A probate valuation is an independent assessment of a property’s open market value at the date of death. This value must be reported as part of the probate application and may also be used to establish inheritance tax liability and ensure fair distribution of assets.
In some straightforward cases, a basic estate agent appraisal may suffice. However, where accuracy is essential, the estate is of higher value, or the property is unusual or complex, a formal RICS Red Book valuation provides a more robust and defensible assessment.
What Is a Probate Valuation?
A probate valuation is an independent assessment of a property’s open market value at the date of death. This value must be reported as part of the probate application and may also be used to establish inheritance tax liability and ensure fair distribution of assets.
In some straightforward cases, a basic estate agent appraisal may suffice. However, where accuracy is essential, the estate is of higher value, or the property is unusual or complex, a formal RICS Red Book valuation provides a more robust and defensible assessment.
Regulated by the Royal Institution of Chartered Surveyors (RICS)
Our probate valuations are carried out by Chartered Surveyors who follow the strict professional standards and ethical requirements set by the Royal Institution of Chartered Surveyors (RICS), ensuring accuracy, independence and full compliance for probate and inheritance tax purposes.
When Is a RICS Red Book Probate Valuation Needed?
A formal valuation prepared by a Chartered Surveyor is advisable in many situations, including:
-
Higher-value estates where inheritance tax may be payable.
-
Approaching the IHT threshold where accuracy is critical.
-
Unusual, older or complex properties, including those with extensive grounds or Listed status.
-
Properties with condition issues, deferred maintenance or structural concerns.
-
Where beneficiaries disagree about value and an impartial opinion is required.
-
If HMRC may seek clarification, or where a defensible valuation is important for executor protection.
A Red Book valuation is prepared in accordance with strict RICS standards and carries the professional reliability expected by HMRC and legal representatives.
When Is a RICS Red Book Probate Valuation Needed?
A formal valuation prepared by a Chartered Surveyor is advisable in many situations, including:
-
Higher-value estates where inheritance tax may be payable.
-
Approaching the IHT threshold where accuracy is critical.
-
Unusual, older or complex properties, including those with extensive grounds or Listed status.
-
Properties with condition issues, deferred maintenance or structural concerns.
-
Where beneficiaries disagree about value and an impartial opinion is required.
-
If HMRC may seek clarification, or where a defensible valuation is important for executor protection.
A Red Book valuation is prepared in accordance with strict RICS standards and carries the professional reliability expected by HMRC and legal representatives.
Why Executors and Solicitors Choose David Cosby
We offer a combination of expertise, local knowledge, and professionalism:
-
Chartered Surveyor-led valuations compliant with RICS standards.
-
Property law knowledge within the firm, ensuring informed, practical guidance.
-
Estate agency experience, offering a rounded understanding of the market.
-
Over 20 years of local knowledge across Northamptonshire.
-
A calm, personal and discreet approach, respecting the sensitivities of probate matters.
Our clients value the reassurance of dealing with a family-run firm where the focus is on accuracy, clarity and professional integrity.
Why Executors and Solicitors Choose David Cosby
We offer a combination of expertise, local knowledge, and professionalism:
-
Chartered Surveyor-led valuations compliant with RICS standards.
-
Property law knowledge within the firm, ensuring informed, practical guidance.
-
Estate agency experience, offering a rounded understanding of the market.
-
Over 20 years of local knowledge across Northamptonshire.
-
A calm, personal and discreet approach, respecting the sensitivities of probate matters.
Our clients value the reassurance of dealing with a family-run firm where the focus is on accuracy, clarity and professional integrity.
Related Guides
For further guidance, you may find the following articles helpful:
Do I Need a RICS Red Book Valuation for Probate?
Probate Property Valuations – What Executors Need to Know
These provide additional detail on valuation requirements and how the probate process interacts with property matters.
Latest News and Projects
How do we value your home? The Comparable Method Explained
What Is the Comparable Method of Valuation?
The comparable method of valuation relies on the principle of substitution: buyers typically will not pay more for a property than they would for a similar one in the same market. We analyse data from recent sales of comparable properties to determine a realistic market value for your home.
This method works particularly well for residential properties, where we can access a wealth of data on similar homes in your area.
Flood Damage: Immediate Actions, Clean-Up, and Prevention Tips
Flooding can cause significant damage to your property, but acting quickly and following the right steps can minimise the impact. Learn about immediate actions to take, how to clean up safely, managing insurance claims, and ways to protect your home from future flooding.
How Labour’s 2024 Budget Will Shape the UK Property Landscape
Labour’s 2024 budget brings transformative changes to the UK property landscape, targeting increased revenue through tax adjustments aimed at property owners, investors, and tenants. Key measures include a higher stamp duty on second homes, inheritance tax caps, an end to the first-time buyer stamp duty discount, and an increase in capital gains tax. While the policies are intended to encourage homeownership and ensure fairer contributions from high-value estates, they may have unintended effects on the rental market, affordability, and property availability. In this article, we break down each change and its potential impact on property buyers, sellers, landlords, and tenants alike.
Regulated & Protected
