Melbourne Probate Property Valuation

At Melbourne Property Valuers Metro, we understand the delicate nature of dealing with a deceased estate. Whether you are dividing assets or going through Probate, finding an independent company for your deceased estate valuation that you can rely on, and trust is important for a hassle-free process. Our expert team of senior property valuers are dedicated to ensuring all our clients receive the best valuation of property for probate purposes that we can offer and alleviate any unnecessary stress.

What is probate?

To legally be able to handle a deceased estate the executor of the will must apply to the Supreme Court of Victoria for Probate. If there is no will, then the closest next of kin may apply to become the administrator. These are referred to as a grant of representation. Once you have been approved for this grant, then the representative may manage the estate, distribute assets and settle any property. For this to be done fairly and in accordance with the will, a property valuation for probate is required.

Conducting deceased estate/probate valuations in Melbourne

An independent probate valuation will provide an accurate and transparent value of the property in relation to the current and/or retrospective market. Independent deceased estate valuations are not biased as valuers are impartial during the research and preparation of the report. With that being said, our probate valuation reports rely on objective data and extensive market analysis when determining the value of an estate. A few examples of what our reports entail include:

• Local comparable sales.
• Building and Property Summary.
• Zoning information.
• Information regarding land and the surrounding environment.
• Any factors that may affect the property market.

With these considerations in mind, along with many others, our expert team of senior property valuers are able to reach an accurate value. This assists in the correct division of assets for the beneficiaries of the estate. We always understand that sometimes a valuation from the ‘Date of Death’ is required for Probate purposes. In addition to providing a current market value of the property, we can also provide a retrospective deceased estate valuation for a specified date if needed.

Why choose us for deceased estate valuations?

We understand the sensitive nature of dealing with a deceased estate and our team will do their best to be as supportive as possible and ensure a hassle-free experience. Our senior property valuers all have at least 20 years of experience in the industry, making them uniquely qualified to help our clients. With such an extensive background, expertise and experience, our team of senior valuers are the best in the industry to complete a comprehensive probate property valuation.

Our clients have consistently reported great satisfaction with our services as:

• Each of our valuers is an API-accredited Certified Practising Valuer (CPV), with many also holding AVI and RICS qualifications.
• We are local property experts in the Melbourne metropolitan area
• We provide transparent reports of market value without bias
• Our property valuation reports are legally binding documents or “sworn valuations”

Frequently Asked Questions

Q: What is real estate valuation at the date of death?

A real estate valuation made for the date of death is known as a retrospective property valuation. During the handling of a deceased estate, the value of assets and property at the date of death is required for distribution and settlement.

Q: Do I need to value property for probate?

The value of property is needed once you have been granted probate and you wish to handle a deceased in a fair and just manner. It can ensure that property is allocated by the will and aids in the prevention of disputes.

Q: What happens if a house sells for more than the probate valuation?

It will be the responsibility of the executor or the administrator to ensure that the proceeds are distributed accordingly to all beneficiaries. If sold within two years, you may be able to avoid paying CGT, thus avoiding a new valuation.

Our deceased estate valuation team is here to help

We are amongst the top probate valuation experts in Melbourne. Contact us today if you have any queries or concerns, including questions on probate value vs market value.

For a quote or a general chat with one of our trained representatives, please call us on (03) 9021 2007 or fill out the enquiry form below.