Estate Agent Question

[Hereford Wolf]

My Mum passed away last November. We have obtained three probate valuations for my Mums house. They seemed a lot more than I thought they would be. I thought that probate valuations are normally a lot lower than normal sales valuations or is there not much difference?

 

[Paddingtonwolf]

Not really. The asset is worth what it is worth. If the probate valuation was miles different then the executor would be sort of bound to sell to get best value for the beneficiaries wouldnt they?

 

[EpsomWolf]

I think you’re relatively safe with valuations on an uncomplicated freehold which is in reasonable order.

The fun starts with properties that older people have been in for some time that have complications, such as leaseholds that are running out, or properties that are in very poor order, and particularly so with those that lenders won’t offer mortgages for. Those cash only properties bring out the crooks and chancers and you get to see the murky behind-the-scenes relationships that estate agents have with certain individuals (I’m looking at you No.72 two doors down). Good luck to anyone trying to get a fair valuation in those circumstances probate or otherwise.

I reckon if your 3 valuations are all quite close that’s got to be a safe sign. If they’re up on what you were expecting take that, it’s a little bit of positivity at a difficult time.

 

[ROVERT47]

In a similar situation, I have a house clearance company going to my Dad’ house on Monday to clear it out.
I’ll then get an Estate Agent involved, my Solicitor told me probate should come through in about March/April.

 

[AndyWolves]

Daft question about house clearance companies. How does it work? Who pays who? I'm assuming the House Clearance company get to flog off anything of value and keep the money?

 

[ROVERT47]

You pay, if there’s anything of value that can be sold you get that back.
Reputable House clearance companies have to pay quite a lot for disposal nowadays so it does cost a bit.

 

[Paddingtonwolf]

When I cleared my shit to move over the company gutted the house in one day while I was in the air. Four skip lorries was about two grand. Of course I could have saved that and done a complete flit but I’m a nice chap