I am assisting a relative to obtain probate for her late husband’s estate. His assets include two by to let flats which are currently rented. We plan to have the flats valued by a chartered surveyor for probate purposes and assume he will estimate their open market value?
Will the surveyor make any downward adjustment in their market value due to the fact that they cannot be sold until the lease expires? Or is there some sort of standard adjustment in value applied by HMRC on rented properties?
property valuation
2 posts • Page 1 of 1
property valuation
by devon on Sun Jan 29, 2012 1:34 am
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Re: property valuation
by pawncob on Sun Jan 29, 2012 10:24 pm
He'll value it according to the terms of the tenancy. Make sure he's aware that they're leasehold.
With a pinch of salt take what I say, but don't exceed your RDA
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2 posts • Page 1 of 1
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