The ins and outs of a Probate valuation for a loved one’s property
12th May 2020 posted in Sellers
The ins and outs of a Probate valuation for a loved one’s property and how Hunters Forest Hill Can Help You
At Hunters Forest Hill covering South East London, we appreciate these are challenging times for everyone, and we hope you and your loved ones are safe and well. However, we know many in our community are facing difficult challenges, as sadly many loved ones are being lost. We were recently approached by a local hospital to offer our probate valuation services to family members who have lost loved ones. We want to extend that offer to anyone else that has this need and we wish to make you aware of how we can help via this article.
The passing of a loved one is a hugely stressful and emotional time and you might not have given thought about dealing with the property or estate. We understand this can be a both a daunting task and a process that many people don’t know much about. We have served the community in Forest Hill, and South East London, in both sales and lettings for many years and a regular portion of our service includes providing probate valuations for clients to submit to the probate office or probate valuations on behalf of solicitors who are acting as executors of a Will or corporate companies who have been appointed as asset managers. We are therefore highly experienced in the process of probate valuation and able to guide you. If you require the assistance and the expertise of a local probate valuation expert, please contact us.
Are you the executor of the Will?
If the property was held solely in the name of the deceased, you must obtain a grant of probate. This will enable the executor to sell or transfer the property. Without this no transactions can take place so it’s an imperative part of the process when dealing with a deceased estate. The grant of probate is a certificate which is issued by the court, and it confirms the validity of the Will. The grant also provides the executor with authority required to deal with the estate of the deceased.
When applying for a grant of probate, the executor should be aware of the timescales associated with obtaining a grant. Even when things run smoothly, it can take two to three months to get the grant. During periods of high demand, the process may even take longer.
Probate Property valuations
One of the most critical aspects of the probate process is to have the property valued. Many people believe this is the same as a regular property valuation which is not wrong, however sometimes specific information is required to be written into the valuation or the valuation is required to be from an estate agent that is a member of a specified body. Hunters Forest Hill covering South East London are members of the National Association of Estate Agents and hold many professional accreditations, our probate valuations are therefore considered bona fide by most organisations.
Whilst you may not know the property as well as your own home, you may be privy to information that impacts the value of the property and we would like to discuss this with you in order to offer you the best possible probate valuation service. Please do raise any points with us that you feel would be relevant in this respect.
Besides this the value of a property depends on the size and condition of the house, but it also depends on many external factors. The state of the local housing market, demand for homes in the area and local facilities and amenities all influence the value of a home.
If you are looking to arrange a probate property valuation or a valuation for any other purpose, contact a local estate agent who understands the local market.
At Hunters Forest Hill we can provide you with a range of valuations to suite your needs. These include:
Instant online valuations – We can provide you with a FREE 9-page property report worth £19.95 from Hometrack (who are trusted by Banks across the country for property price intelligence). However, this is no replacement for a local expert, so we recommend you download your FREE report and then contact us to discuss in more detail. Alternatively, contact us and we will download the report for you and discuss your property with you in greater details at the same time.
Real time video and virtual valuations via Facetime, WhatsApp, Zoom, Skype and may other video calling providers. You can also send us a video of your property via email to Foresthill@hunters.com
And we can attend the property to undertake a traditional valuation of your property.
Via the use of current state of the art technology we can provide evidence-based valuations via any of the above methods.
Upon reviewing the property, and considering the condition of the local market, we will provide you with a realistic assessment of the property value. This provides a great starting point should you need to place the property on the market in the future.
Should you need to place the property on the market, our use of technology extends further to provide maximum marketing exposure and high impact property marketing materials.
· State of the art marketing services on social media channels. We use VIRTUAL TOURS and VIDEO WALK THROUGH TOURS to promote properties on Facebook, Twitter, YouTube, Instagram and other popular social media outlets
· The use of professional VIRTUAL TOURS, VIDEO, IMAGES, FLOOR PLANS and other media extends to listings on the UK’s most popular property websites such as Rightmove, Zoopla and OnTheMarket
· A national network of approximately 200 Hunters offices ensuring your home is seen by as many buyers as possible around the country
· Knowledge of the local area, ensuring the assets of the locality are highlighted on your property’s adverts such as recreation, transport schools and social life which will position and promote your property in the best manner
· A team of dedicated sales progression experts who manage the process of the sale after an offer is accepted to ensure solicitors, mortgage brokers and buyers are doing what is required effectively and as efficiently as possible. This reduces the potential of a sale collapsing
· An award-winning track record of selling homes in and around South East London from our hub in Forest Hill
At Hunters Forest Hill, we know selling property is challenging, but we are here to assist you in the process. If you aim to buy, sell, let your home or rent property, we are active in New Cross, Peckham, Dulwich and Brockley, in addition to Forest Hill, so get in touch with one of the top three agents in London, and we will be happy to assist you.