Probate Property Valuation in Bury | Probate House Valuation in Bury | Auction Agent – Your Local Property Auction House
Probate Property Valuation in Bury
Climbing the first rung of the property ladder is a huge achievement by any standard. It may be that you have inherited a probate property from a relative who has recently passed away. It is imperative to obtain a probate property valuation to submit to probate solicitors if you are looking to sell and distribute the estate and/or probate property between the named persons under the will of the deceased. Unlike a regular property valuation which is usually informal and communicated verbally, a probate property valuation is much more comprehensive and requires an expert property valuer, experienced in your local area, to conduct the valuation and compile the report. There are various reasons why probate property valuations should only be conducted by experienced property valuation experts – one of the most important reasons is because it has major tax implications.
Probate Property Valuation versus Property Market Valuation
What is the difference between the two and how do they affect my tax position? A probate property valuation is essentially the figure which a probate property is expected to fetch on the open market, whereas a property market valuation is the actual figure fetched from the open market. If a probate property valuation is higher than the actual amount it sold for on the open market, the estate beneficiaries are allowed to claim back the difference in inheritance tax that was paid. On the other hand, if the probate property valuation is lower than the actual amount it is sold for on the open market, the estate beneficiaries are liable to pay any inheritance tax due. HMRC is always under pressure to generate more tax revenue from taxpayers. They will, therefore, always look to challenge any probate property valuation if they believe it is under-valued. To avoid any audits, complications and delays, inheritance beneficiaries should ensure that any probate property valuation should be as realistic and as reasonably accurate as possible.
Auction Agent, your local property auction house, has over 50 years of combined experience within the property industry. We are well placed in central Haslingden to conduct comprehensive probate property valuations for probate properties in Bury and any surrounding areas within Greater Manchester and Lancashire. Our property valuers have experience all over Bury. We have covered areas near the World Famous Bury Market, Bury Grammar School, Bury Cemetery, Holy Cross College, Bury Football Club, Moorgate Medical Centre, Peel Tower, Millgate Shopping Centre, Bury College, The Rock and Bury Vue Cinema.
No property sale should ever be prolonged, especially probate property sales as they may include numerous people. Property auction is, therefore, the most ideal and quickest method to sell your probate property. Auction Agent Property Auction House provides a one stop service for inheritance beneficiaries. We provide probate property valuation reports, house clearances, security checks, general maintenance and most importantly, a probate property selling service through our property auction house platform. With our traditional property auction method, Auction Agent property auction house will ensure that any properties sold through our platform will be exchanged and completed within any time between 1 to 28 days.
Do you have a probate house, probate land or any other types of probate property in the Bury postcodes of BL8, BL9 and BL0, including Walshaw, Tottington, Ainsworth or Greenmount?
Get in touch with a member of our auction team today at 01706 940499 and book in a probate property valuation so you can take the first step of liquidising your inherited estate.
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