House Valuation

M

Mijne

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I got a house valuation for the probate (submitting personal application) of my late mother's estate. I got a few estate agents out and the valuations were all different. The one that seemed the most reasonable gave me from €500,000 to €515,000. I did ask the estate agent which figure to use and he said just submit it. The house is divided between myself and my sister and the threshold increased after my mother died to €310,000 each, but we have €280,000. The houses that were sold around the time my Mum died were refurbished and modernised. The house needs a lot of work but none of the estate agent think that is relevant. I went into the Revenue in Catherdral Street and asked what figure should I use for the CA24 form. The person I spoke to said he was not sure maybe the lower figure or the higher one? I then contacted the Revenue online and asked the same question and was told maybe take the lower, the middle or higher?
I want to use this valuation as it is the best one. For CA24 form you have to add the total value of the estate so I am confused as what to put in. I know there is an interview with Revenue after you submit forms. I do not want to have any issue with the figure later. Has anyone any ideas? Thanks.
Mijne


Mijne
 
Put the property on the market. That will give you your valuation. Once you've gone sale agreed, make your application for probate.

You'll need a solicitor for the conveyancing - they might (might not!) advise you on the various pros/cons/ swings and roundabouts about Probate valuations depending on your circumstances although, personally, as a solicitor, I prefer to offer advice only on matters I'm being paid for .

mf
 
Definitely not selling we are going to live in. Once probate is done we are going to a solicitor for the change of names on title deeds.

Mijne
 
Well, then if the Estate agents valuation the property in its current condition is, €500k-€515k, and it needs doing up, surely the valuation price would be considerably higher after the work was carried out.

If as you say, you dont want hassle, or anything to come back on you, why not just submit the given price.? €507k
 
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