I secured tbe services of a property specialist - HMRC-recognised - to arrange valuation for my mother's house after her demise. Three valuations resulted in one being extremely aberrant, such that a fourth valuation was done.
The specialist spoke to the "aberrant" agent and could not get a real handle as to why he came up with his figure. Here are the "achievable" values reported:
975,000 aberrant
725,000
575,000
650,000
The specialist has still come up with a final probate value which is higher than tbe average of these four figures above. So, although it is accepted that the first figures has issues associated with it, otherwise a fourth valuation would not have been sought, the value still forms part of the calculus here.
Should I accept the figures derived? I've asked why the first value cannot be ignored but cannot get a clear answer. It seems to me that in situations such as these, one could end up paying more IHT than expected. purely on an "aberrant" agent.
Not sure what to do next. Any thoughts gratefully received.
Thank you.
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