Tips and traps in probate property valuations

In this latest podcast Today's Wills and Probate podcast host David Opie is joined by RICS Surveyor Bill Wilkinson to discuss property valuations and imparts his expertise on how important professional "red book" valuations are when taking into consideration the tax implications. In the podcast Bill discusses the difference between a Surveyors and an estate agents valuation. He outlines how he goes about valuing property and the considerations that go into establishing property value; a challenge he acknowledges is made all the more difficult given the fluctuations in property market pricing over the past 3 years. And when it comes to district valuer negotiations he suggests that a "regulated" valuation provides an extra layer of security and surety for executors, especially In the last 12 months Bill reports an increase in HMRC enquiries owing to 1) the need for HMRC to recoup money and taxes given the budget deficit and 2) the volatility in the market creates scope for higher and lower valuation; and provides some thoughts on how best to deal with such negotiations.  The Today's Wills and Probate podcast is available on your preferred podcast provider, and at www.todayswillsandprobate.co.uk. Subscribe today to hear all the latest news and views across the wills and probate sector.Thank you to our podcast sponsors LEAP Estates, Estate Research, Property Ladder Group and Finders International.