A deceased estate valuation is the process of placing a monetary value on the property and assets of a person who has died. This valuation is typically conducted by a professional valuation company or an individual valuer. The purpose of the valuation is to help resolve any disputes that may arise between the beneficiaries of the estate. It is also used to determine how the estate should be divided among the heirs. In some cases, the valuation may also be used to determine whether or not probate should be granted. In order to ensure that the valuation is accurate, it is important to hire a reputable and experienced valuer.
What is a Probate?
A Probate is a court order and a legal process of distributing a deceased person’s assets. A key part of this process is determining the value of the deceased person’s estate, as this will determine how the assets are divided. While some people choose to DIY their estate valuation, it is generally recommended to hire a professional valuer. This is because valuers have the experience and expertise necessary to accurately assess the value of both property and possessions. Additionally, valuers can help to resolve any disputes that may arise between beneficiaries. As a result, hiring a professional valuer is often seen as the best way to ensure a fair and accurate distribution of assets.
Romeo Property Valuers is staffed with highly qualified Registered Property Valuers combining over 50 years of property valuation experience. We are experienced and have completed many deceased estate valuations in Sydney.
The Director, Vincent Romeo, sits on the Board the Australian Valuers Institute and acts as an advisor and mentor to many Registered property Valuers throughout NSW.
Romeo Property Valuers have acted for many Private, Corporate and Government clients in their tenure as one of the leading Valuation firms in NSW enabling Vincent Romeo an opportunity to offer his property valuation expertise on Channel 10’s popular lifestyle show “The Living Room”
Other than being highly accredited as Registered Property Valuers throughout NSW we have an extensive range of knowledge and experience in the Property Analysing process and pride ourselves on delivering comprehensive property analysis and subsequently reliable and accurate property valuations. We are constantly observing and educating ourselves with the trends and changes in the market in order to make sure your property valuation is accurate, precise and reliable.
To make an informed property purchase or else in order to obtain solid returns on your home’s equity, you require accurate and realistic data. We strive to deliver market-leading strategic and innovative property advice using state-of-the-art valuation and information technology systems in order to enable you to make informed financial decisions.
There are a number of methods that are used to value a home. Usually, it is determined by multiple factors such as the age of the property, location, and size of land. In Australia, you will need an accredited professional to provide a valuation.
Due to the nature of the information required the whole process can take anywhere from 2-4 days depending on the property size.
The difference between Probate Value and Market Value is largely determined by how it’s obtained. A probated value has been obtained in a way acceptable to HMRC for establishing what inheritance tax due on an estate, while market prices are often estimated based upon similar sales of property or possessions not subject only to this duty but also other taxes such as capital gains rates when they sell their homes.