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What Is a RICS Valuation? Everything You Need to Know

Posted on by crestadmin

When buying or selling property, especially when a mortgage is involved, understanding its true value is essential. This is often where a RICS valuation is required as an accurate, independent assessment of a property’s worth.

A RICS valuation is a professional assessment of a property’s value. It’s conducted by a RICS-registered surveyor and used for mortgages, financial planning or property transactions to ensure sound investment decisions.

But what exactly does a RICS valuation involve? How long does it take? And how much does it cost? If your valuation expires, what happens next? Read on to discover everything you need to know about RICS valuations, whether you need a survey, what to expect from the process, and when a valuation is legally required.

A row of suburban houses

What Is a RICS Valuation?

A RICS valuation is a detailed and independent assessment of a property’s value. RICS-registered surveyors will conduct the valuation in accordance with RICS Red Book guidelines. These guidelines cover things such as the property’s size, condition and location. 

Importantly, there is no conflict of interest because RICS surveyors don’t earn commission from their valuation. As such, a RICS valuation is required by lenders prior to mortgage approval. They can also be required to determine the appropriate level of insurance for a property.

When Do You Need a RICS Valuation?

The most common reason for a RICS valuation is that it’s required by a mortgage provider. Independent assessments of value are used by banks to make sound investment decisions. But this isn’t the only case you might need a RICS valuation. Scenarios where you might need the opinion of a surveyor include:

  • Inheritance Tax Valuations – HMRC requires a professional valuation to assess an estate’s total worth for inheritance tax purposes.
  • Capital Gains Tax Purposes – When selling property that has increased in value, a RICS valuation may be needed to calculate capital gains tax owed.
  • Divorce and Legal Settlements – A RICS valuation is often needed to divide property assets fairly. 
  • Business Valuations – For businesses that own property, a RICS valuation is required for accounting, auditing or tax purposes.
  • Development and Planning Applications – A RICS valuation can provide a reliable assessment of the property’s worth and future value.
A small cobbled street with bushes and a row of terraced houses.

What Does a RICS Valuation Involve?

A RICS valuation involves a thorough assessment of a property’s value, as judged according to a RICS surveyor’s extensive training and experience. As such, it covers several key areas:

Construction and Condition

A property’s physical condition is a big part of its valuation. After all, a property needing major repairs is worth a lot less to prospective buyers. Surveyors look at how well the property was built and maintained. Modern, energy-saving features could also result in a higher valuation.

Location & Amenities

When it comes to buying a property, location is (nearly) everything. This is often a case of how close it is to local schools and public transportation. General trends in an area’s desirability can also be a factor in the valuation—if more people want to live in an area, the demand for housing increases.

Comparable Sales Data

Surveyors will also use comparative sales data to arrive at their valuation. This aspect of valuation involves checking the prices of recently sold homes to judge where a property falls within the overall market.

Economic Conditions

The broader economic climate plays a key role in RICS valuations. If conditions are unfavourable—including high interest rates, inflation or economic uncertainty—valuations decline with demand. Conversely, during periods of growth and high consumer confidence, there is often an increased demand for property. A RICS valuation captures these market trends to provide an accurate assessment of value.

Environmental Factors

The surrounding environment also plays a crucial role in determining property value. When providing a RICS valuation, surveyors will weigh up zoning regulations, green spaces, infrastructure, as well as general environmental risks—such as flooding—to reach their conclusion.

How Long Does a RICS Property Valuation Take?

For most residential properties, a RICS valuation takes less than a couple of hours to complete, depending on the size of the property. This process involves a thorough inspection of the house and its immediate surroundings. The resulting report will be delivered within a few working days.

Some buyers may opt for a more detailed RICS valuation, in which case it will take longer to conduct and deliver. In-depth surveys are typically required for older houses or those built with unconventional materials.

How Much Does a RICS Property Valuation Cost?

A RICS valuation varies according to property type, size, location and the complexity of the valuation. At Crest Chartered Surveyors, our RICS valuation prices start from:

  • £349 for up to a 2-bed property
  • £369 for a 3-bed property
  • £399 for a 4-bed property
  • £449 for a 5-bed property

All prices are inclusive of VAT.

For a more precise estimate, you can always use our house survey cost calculator.

Two people working on a laptop

What Happens if My RICS Valuation Expires?

A RICS property valuation is typically valid for three months from the report’s date. That said, factors like market and property conditions, as well as local regulations, can impact a report’s validity. If your RICS valuation expires before you can complete a transaction, you’ll need a new one. 

In some cases, a new report can be a simple “desktop valuation” that extends the original valuation by another three months. Importantly, a desktop valuation must be issued by the same RICS surveyor, on the company’s headed paper, and provided in a non-editable format.

Get Your Valuation from a RICS-Registered Surveyor

In summary, a RICS valuation is an accurate and detailed assessment of a property’s worth. They help to ensure compliance in a wide variety of financial and legal scenarios. Whether you’re applying for a mortgage, settling a legal matter, or evaluating your tax liability, a RICS surveyor can help you get the valuation you need.

At Crest Chartered Surveyors, we offer a wide range of RICS surveys and valuations in London and the surrounding areas. Our experienced team will help you choose the right survey for your needs before conducting a thorough valuation. Contact us today for expert advice.

If you’re keen to learn more about our services, explore our latest blog posts for insights on property valuations: 

What Was the 36-Month Rule for Capital Gains Tax in 2025?

Posted on by crestadmin

Anyone selling a property should know that the old 36-month rule has been replaced by a 9-month exemption. This rule was in place to determine the amount of Capital Gains Tax that must be paid at the point of sale or transaction for a house or property within the UK. The 36-month exemption was first reduced to 18 months in 2014 and then to 9 months in April 2020. Today, homeowners can only claim CGT exemption for the final 9 months of ownership before selling.

Read about the new 9-month rule here.

But what was this rule, how was it implemented, and what do you need to know if you are buying and selling the same property within a 3-year window? 

Our RICS-Accredited team here at Crest Surveyors are here to help you dispel any myths around the 36-Month Rule and its implications for Capital Gains Tax. 

The 36-Month Rule for Capital Gains Tax was a UK law that previously determined tax liability on property sales. It allowed sellers to claim CGT exemption for the final 36 months of ownership, even if they had moved out. However, this was reduced to 18 months in 2014 and further to 9 months in 2020, which remains the rule today.

This general law is in place as it prevents short-term transaction benefits concerning taxation. The 36-Month Rule was therefore in place to ensure that taxation is fair for property sales, within a timeframe of 3 years.

Although the 36-Month Rule is still discussed, the current law only provides a 9-month exemption period for CGT.

Learn more about the updated 9-Month Rule here.

Two people working on a laptop

The 36-Month Rule for Capital Gains Tax

The 36-Month Rule for Capital Gains Tax was used to ensure fair taxation across properties sold or transferred within 3 years. Since 2014, the Government has made amendments to this time period, however, the term ‘36-Month Rule’ is still very much used in common parlance. As of January 2025, tax exemption from Capital Gains Tax only applies to a 9-month period. 

But first, let’s clarify a few key terms here. For instance, what is Capital Gains Tax at all?

What is Capital Gains Tax?

Capital Gains Tax is money paid towards the government on the financial gains on capital, in this case, property. So, if you have purchased a property for £100,000, which is now worth £110,000 at the time of sale (or transfer, exchange, or disposal), your capital has gained a value of £10,000. Capital Gains Tax, in this sense, is a tax paid on the difference in the value of your property when you bought it, over the amount that you sold it for. 

CGT is a tax paid on this gain in capital as a set percentage as stipulated by the government. This percentage is based on what capital you are paying the CGT on (in this case property), and the tax status of the individual paying. This is based on income and a number of other factors. If you earn more, you may be more liable to pay a higher percentage of tax on the amount gained across your assets. 

The variables that are in play include: 

  • Main Residence Exemption – If the property was your main home, CGT may not apply.
  • Income Tax Band – Basic rate taxpayers (income up to £50,270) pay 18% on property gains, while higher/additional rate taxpayers (income above £50,270) pay 24%.
  • Annual Exemption Allowance – Each person has a tax-free CGT allowance of £6,000 (2023/24).
  • Joint Ownership – Couples who jointly own a property can combine allowances to reduce taxable gains.
  • Private Residence Relief (PPR Relief) – The final 9 months of ownership are CGT-exempt for most homeowners. However, if the owner moved into a care home and did not rent out the property, they may still qualify for an extended 36-month exemption. This rule doesn’t apply for regular sellers, however. 
  • Duration of Ownership – If you owned the property for a long period, only the portion of time it was not your main home is taxable.
  • Property Value & Cost Basis – You can deduct purchase price, legal fees, stamp duty, and capital improvements when calculating your gain.
  • Letting Relief – If you rented out your former main home, you may qualify for up to £40,000 in Letting Relief to reduce CGT.
  • Spouse or Civil Partner Transfers – Transfers between spouses/civil partners are tax-free, allowing you to split the gain for tax efficiency.

Read About the New 9-Month Rule

However, a break on this tax is applicable when you sell a property which was your only residence. This is known as Principal Private Residence Relief or PPR Relief. It is also worth noting that each individual has a £6000 tax-free amount, which doesn’t incur a tax. 

You may only be liable for CGT when selling or disposing of a second home or buy-to-let property. As mentioned, if you are selling or otherwise disposing of your only property, you may not be liable at all for CGT and, therefore, exempt from the new 9-Month Rule altogether. 

So, the amount of CGT you might pay is dependent on a few things, which we will explain further. 

View our Capital Gains Tax Services.

A toy house with a magnifying glass and floor plans

Was The 36-Month Rule A Tax-Free Window for Sellers?

The 36-Month Rule was an extension of Principal Private Residence (PPR) Relief, which is designed to reduce or eliminate CGT liability for homeowners. This rule did allow sellers to claim full tax exemption for the last 36 months (3 years) of ownership, even if they did not live in the property during this period.

As mentioned, this period has since been reduced to a 9-month exemption period.

How Did the 36-Month Rule Work?

If the property was your main residence at any point during your ownership, then the last 36 months of ownership are automatically exempt from CGT.

This exemption applies even if you moved out before selling the property. If you rented out the property after moving out, you may still qualify for partial relief.

Who Benefits from the 36-Month Rule?

Before 2020, the 36-Month Rule helped homeowners who were selling their only home by allowing them to claim tax exemption for up to three years after moving out. However, since April 2020, this period has been reduced to just 9 months. 

Read more about how the 9-Month Rule affects sellers today.

This rule was particularly useful for:

  • Homeowners who move before selling: If you buy a new home but take the time to sell your previous one, you could benefit from CGT relief for three years.
  • Landlords and second-home owners: If you previously lived in a rental property but later let it out, you could still claim part of the exemption.
  • People moving into care homes: If you had to move into long-term care, the 36-month exemption would still apply, helping to reduce CGT liability.

How Do You Value a House for Capital Gains Tax?

To calculate your taxable gain, you must determine:

  • Purchase Price (Original Value): The amount you originally paid for the property.
  • Sale Price (Disposal Value): The amount you sell the property for.
  • Market Value (If Required): Used when selling to a relative, gifting the property, or if the property was inherited.

Deductible Costs: Legal fees, stamp duty, and improvements (but not for maintenance).

How Much Is Capital Gains Tax on a Second Property?

As mentioned, any Capital Gains Tax is payable for second properties, rather than primary residences or dwellings. Therefore, the tax rate applicable to second homes is set at 24% for higher-rate taxpayers and 18% for basic-rate taxpayers (as of 6th April 2024).

How Long Do You Have To Keep a Property To Avoid Capital Gains Tax in the UK?

You can only avoid Capital Gains Tax if the property that you are selling is your only home. This is known as the Private Residence Relief (PRR). This rule prevents individuals who own just one property from paying tax when selling or disposing of their home.

And aerial image of the Thames River.

Your Partner with Understanding Capital Gains Tax

Here at Crest Chartered Surveyors, we understand that getting your Capital Gains Tax right can mean the difference of thousands of pounds in your pocket. Our expert team of RICS-accredited Surveyors can help you with the sale of your property. Located in Holborn, London, we work with many homeowners in the region, including the South East and the Home Counties, to help them progress with the sale or purchase of their property. 

Working with our qualified team will allow you to understand your and your property’s tax status and the allowances to which you may be entitled. 

We understand that selling your property can be confusing, so allow us to provide some clarity. Our team can help you with your Capital Gains Tax by providing you with a detailed assessment of the value of your property at an affordable price.

What Is the Capital Gains Tax 9-Month Rule?

Posted on by crestadmin

With so many capital gains tax rules over the years, it can be hard to keep track of what the current laws are and what you’ll need to pay. However, if you’re selling a home, you’ll need to be up to date with the current rules to ensure that you’re not overpaying or receiving fines for getting it wrong.

In this blog, we’ll go through everything you need to know about the 9-month rule to ensure that the process is as smooth as possible.

Key Takeaways

  • Capital gains tax is a tax that you need to pay on any profit that you make when selling your home.
  • You can get exemptions for properties that are your main place of residence.
  • The 9-month rule is an extra exemption that means that you don’t need to pay tax on the last 9 months of property ownership.
  • The 9-month rule came into effect in April 2020, after being reduced from 36 to 18 months in 2014 and then to 9 months in 2020.
  • The 9-month rule benefits a variety of situations, including those who buy a property before managing to sell their existing one.
  • You’ll need a RICS-accredited surveyor to complete a capital gains tax valuation to ensure that you know the accurate value of your property at the time of sale.
A metal light switch on a white wall.

What Is Capital Gains Tax?

Capital Gains Tax (CGT) is a tax that you need to pay on the profit that you make when you sell an asset that has increased in value. This asset could be anything from a painting to a house.

For example, if you buy a house for £125,000 and sell it for £200,000, you’d need to pay tax on the £75,000 that you made in profit. It’s worth noting, however, that there is also a Private Residence Relief (PRR) that provides an exemption for any period where the property is your sole residence.

What Is the Capital Gains Tax 9-Month Rule?

When selling your property, there is an exemption period for the last 9-months of ownership, even if you weren’t living at the property over that period. This means that any gains made in value over this period are ignored, and you’ll only have to pay CGT on the gains made before then.

When Did the 9-Month Rule Come Into Place?

The 9-month rule came into effect in April 2020. The exemption previously lasted for 36 months, before being reduced to 18 months in 2014 and later 9 months in 2020 – see our blog on the 36-month rule.

The rule has been changed to reduce the unfair advantage that people with second homes could gain over those with a single residence.

A bird house that is designed to look like a house hanging from a tree.

How Does the 9-Month Rule Work?

For periods where you’ve owned a property that isn’t your main residence, you’ll be liable for capital gains tax. The 9-month rule essentially excludes all gains made during the last 9 months of ownership, whether you were living there or not.

For example, let’s say you bought a house in 2010 for £200,000 and it was your main residence until 2015, but then you moved into a new property, renting the original one out. In 2022, you decided to sell the property for £350,000. You would pay CGT based on:

  • 2010 – 2015: During this period, you lived in the house as your main residence. This means that Private Residence Relief (PRR) would apply and you would pay no capital gains tax.
  • 2015 – 2022: The property was rented out for this period, meaning that you’ll need to pay capital gains tax on it. However;
  • Final 9 Months: For the final 9 months, you are still entitled to PRR under the 9-month rule, meaning that you won’t pay CGT during this period.

Overall, you would be liable to pay CGT between moving out of the property in 2015 to 9 months before selling in 2022.

Who Benefits From the 9-Month Rule?

The 9-month rule has a few different use cases that make it beneficial in different scenarios. These can include:

  • Homeowners who move before they’re able to sell: When buying a new home, there is often an overlap between buying a property to move into and selling your old home. This exemption allows for 9 months between buying and selling.
  • Landlords & homeowners with multiple homes: You can claim tax exemption for at least a portion of your ownership period.
  • Those moving into care homes: If you need to move into long-term care, the 9-month rule provides a period where you’re able to sell your old home without paying CGT.
Person signing contract

Who Can Value a House For Capital Gains Tax?

To value your property for capital gains tax, you’ll need an experienced RICS-accredited surveyor. They will be able to value your property based on the value at the time of sale and provide you with an accurate valuation that will be accepted by HRMC. 

If you’re looking for a trusted surveyor for a capital gains tax valuation in the South East of England, look no further than Crest Surveyors. We work with you to provide a detailed valuation that avoids any unnecessary jargon so that you understand every aspect of your property.

Get in touch with a member of our team today to discuss your requirements.

Do Estate Agents Charge for Probate Valuations​?

Posted on by Thomas Awoleye

Probate can often be a difficult and confusing time, especially when dealing with the deceased’s estate. Estate agents offer an easy solution for valuing the estate’s property, but do estate agents charge and can you use this for probate?

Estate agents generally do not charge for an informal probate valuation. However, an estate agent’s valuation is an estimate based on similar sales of properties in the area. For probate, it’s best to get a professional valuation from an RICS Surveyor so that it can be accepted by HMRC.

Read on to find out more about why estate agents provide free valuations, when they can be used for probate, and more.

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Do Estate Agents Do Free Valuations for Probate?

Estate agents will generally not charge a fee to complete an informal probate valuation, particularly if you’re paying for the agency’s services. You can talk to most estate agents for free and get a general idea of the market value of the property.

However, some estate agents will charge a small fee, usually a percentage of the property’s value. This is usually below 1% of the market value.

Can I Use an Estate Agent Probate Valuation for Probate?

The valuation that an estate agent is able to provide is informal and usually provided by comparing similar properties that have been sold in the area. This is normally completed without visiting the property and accuracy can vary as a result.

This can be used to get a general idea of the property’s market value, which can be used for probate in cases where the overall value of the entire estate is below £250,000. For estates worth more than this amount, you will need to gain a specialist valuation from an RICS-registered Surveyor.

In cases where the property is worth over £250,000, a surveyor will come to the property and complete an in-depth, accurate valuation of the property that HRMC can accept to calculate inheritance tax.

Even if the estate is valued below the £250,000 threshold, you may want to get a more accurate valuation from a surveyor to ensure that you can prove that the valuation of the property is accurate. This can help you avoid any tax issues in future.

For more guidance on whether you should get a professional valuation for probate, read our blog: Do I Need an Official House Valuation for Probate in the UK?

Why Do Estate Agents Offer Free Valuations?

Free valuations are a big part of an estate agent’s marketing funnel. Most people will get around 3 valuations from different estate agents, but the vast majority of those will end up selling with one of the agents that gave them a valuation.

This means that estate agents can spend a small amount of time creating an informal valuation for around 10-25% of them turning into house sales (and commission).

One concern for the homeowner here is that some estate agents might inflate the property’s value to get the owner excited about selling and influence them to choose that agency. For probate valuations, this can cause a big issue since tax is involved.

For information on how much a specialist valuation will cost, you can use our House Survey Cost Calculator.

And aerial image of the Thames River.

RICS-Registered Surveyors In London & The Home Counties

Crest Surveyors are trusted RICS Surveyors that provide a range of survey and valuation services, including Property Probate Valuations. We cover a large area spanning London, the Home Counties, and the South East of England.

Our expert surveyors will provide you with an accurate probate valuation that can be submitted to HMRC as part of probate. We don’t use any technical jargon in our reports and will ensure that you understand every aspect, setting you up for an easier probate process during an often difficult time.

Get in touch with a member of our team to discuss your requirements today.

How Do You Know If Damp Is Serious?

Posted on by Thomas Awoleye

There are many issues you need to keep an eye out for in your home, including the presence of damp. With the ability to cause a range of issues, damp is something to be on the lookout for and, ideally, solved as quickly as possible. So, what is damp and how do you know if it’s serious?

Damp is the presence of unwanted moisture on your home’s surfaces, leading to dangerous black mould if it’s left untreated. This is serious, because not only can damp damage your property, but the resulting black mould can have serious health implications. Getting to the root cause of your damp is important and can save on costly repairs.

Read on to find out more about what causes damp, if you should be worried about damp, what will happen if you leave damp untreated, and more.

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What Causes Damp?

Damp is caused by the build-up of water and moisture in your property. The following common signs can help you identify dampness in your home:

  • Condensation on windows.
  • Discoloured or dark patches on your plaster.
  • Water droplets on your wall or surfaces.
  • Rotting woodwork.
  • The presence of black mould.


You can find out more about dealing with damp in your property here. Alternatively, our surveyors are on hand to help, so contact us today to find the source of your problem and get on the path to solving it.

Should I Be Worried About Damp?

Dampness in your property can cause a multitude of problems, for both you and your building. If it’s left untreated, damp can cause black mould, which is dangerous and can lead to health issues. Fevers, coughs, and other unpleasant symptoms can all result from the presence of black mould, so dampness should be seen as a serious issue.


Damp walls and surfaces can also cause significant damage to your property. Rotting wood, growing fungi, or other serious structural issues are a possibility. This is why it’s important to get help from a Crest surveyor if you’re worried about damp in your property or one you’re considering purchasing.

What Does Severe Damp Look Like?

There are many common signs of damp you need to be aware of, but some of them can be more serious than others and are a sign of severe issues:

  • Mould: Black mould can be harmful to your health. If you’re seeing it in your property, you need to resolve the damp issues as soon as possible.
  • Crumbling Plaster: Severe damp can cause plaster to start crumbling, especially lower down on your walls.
  • Rotting Wood: Not only can excessive moisture start to rot your skirting boards, but your floorboards too. In combination with other factors, this can lead to structural issues.

Discolouration: Severe damp can begin to discolour your walls, ceilings, or floors.

How Can I Tell Where Damp Is Coming From?

Identifying the source of damp early is key to treating it and preventing further impact on your property. There will be signs both inside and outside the building that will help you find out where the moisture might be coming from.

Inside:

There are multiple ways to find the source of damp on the inside of your property. They can include:

  • Rising damp is a sign of damp coming from the ground and will often affect the lower parts of your property. Marks on walls no more than one metre from the ground or rotten skirting boards can both be an indicator of rising damp, among other things.
  • Wallpaper peeling from the lower parts of your walls.
  • Other wooden elements rotting.
  • A stale smell.

Outside:

External walls can also provide a good indication of where excess moisture might be entering your property. The following list is just a few things you can look out for to help you find the source:

  • Damaged brickwork.
  • Growth of moss or algae.
  • Blocked or damaged gutters.
  • Missing roof tiles.

How Do I Know If My House Is Too Damp?

There are some simple ways to find out if your property is starting to become too damp. You might see condensation on your windows, especially in the morning. You can also check your walls. They might feel damp or cold to the touch, which is a sign of excess moisture. It’s also possible that you will notice a rise in your utility bills, as dampness may make your home feel colder. Moist air also requires more energy to heat than dry air, so eliminating as much excess moisture as possible should be a focus.

How Do You Know If Damp Is Affecting You?

The health impacts of dampness in your home are just as important to recognise as the possible structural issues it can cause. There are an abundance of ways the presence of damp and resulting mould can affect you personally, but here a just a few: 

  • Respiratory Issues: The majority of contact made with the dangerous products of damp happens through breathing them in. This means that many of the health issues caused are found in the lungs and airways. Symptoms can range from a general cough to an increased risk of developing infections.
  • Irritation: Some may suffer from allergic reactions after exposure to damp or mould. Eye irritation and itchy skin are both signs that the damp in your home is affecting you.
  • Other Infections: Other fungal infections can also be caused by exposure, especially in those with weakened immune systems. This includes, but is not exclusive to, skin infections.
  • Mental Health: Living with damp or mould could also impact your mental health. This could be due to the damage to belongings, delays in repairs, or many other obstacles you might face before treating the issue.
An open window with a radiator below it.

What Happens If Damp Is Left Untreated?

The more serious your damp problem is, and the longer it is left untreated, the worse the risks to both you and your property are likely to be. Structural damage, interior damage, and health impacts can lead to huge financial and emotional costs.


Not only can damp issues mean higher heating costs, but an ongoing problem can make it difficult to sell or remortgage your property. All of the resulting problems mentioned in this blog can be avoided if you treat dampness as soon as possible. Get in touch to start the process with Crest Surveyors today.

Trusted Surveying Services

If you’re worried about issues in your property or a property you’re looking to buy, we can provide you with expert house surveys to give you piece of mind and allow you to fix issues before they get worse.

 

All of our surveyors are members of the Royal Institute of Chartered Surveyors (RICS) and have years of experience offering you great support and expert advice.

 

You can count on us for:

  • Value For Money: We aim to provide great value services, no matter your individual requirements.
  • Superior Support: Crest provides expert advice tailored to your needs.
  • Fast and Reliable Service: With most of our surveys, you can expect results within six working days.
  • Excellence: All of our surveys and valuations meet the rigorous requirements set out by RICS.
  • Stronger Negotiations: We can help you secure the best possible price, whether you’re buying, selling, or renting.


Interested in booking our surveying or valuing services? We’ll be happy to talk you through our services and give you a hand in deciding what’s right for you. Then, we can schedule an appointment to get you started. Get in touch with Crest today to find out more about what we can do for you.

FAQs

A dehumidifier can help with dampness in your home, but will not get rid of it completely. They work by extracting moisture from the air, and can help reduce moisture levels and prevent mould. However, dehumidifiers are less effective in larger areas and will not address the root cause of dampness. Finding and addressing the origin of the issue is key and our surveys can help with this.

On top of the common signs of damp we mentioned earlier, you can also look out for others, like a musty smell that isn’t coming from something else, or bubbling and peeling paint. There are many things that can tell you if your property is developing issues with damp, and it’s important you get them treated as soon as possible.

Damp in your home can cause a range of symptoms:

  • Respiratory Problems: Such as wheezing, shortness of breath, and coughing.
  • Allergic Reactions: Such as sneezing, skin rashes, or a runny nose.
  • Irritation: Such as a sore throat, or red, itchy eyes.


Existing allergy conditions and asthma can also be worsened by dampness and its resulting mould. Certain groups of people, like the elderly or those with weakened immune systems, are more at risk. If you have symptoms that persist, please see a doctor.

Does Japanese Ivy Destroy Brick?

Posted on by Thomas Awoleye

Does Ivy Destroy Brick? ​

Whether you’re looking to buy, sell, or rent a property, it’s important to know about everything that could affect it in the future. Not only do you have to think about the structure itself, but it can also be affected by nearby influences, like plants. So, does ivy destroy brick?

Yes, Japanese ivy can destroy the bricks found on exterior walls. It can also become destructive to other exterior features, like paths, drains, or fences. This invasive plant’s stem is strong enough to damage your property’s foundations and needs to be managed as soon as possible.

Read on to learn more about Japanese ivy, and how it might affect you and your property.

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What Damage Does Japanese Ivy Do To Walls?

Japanese ivy, also known as Japanese knotweed, is an invasive, rapidly growing plant that can become destructive if left to grow. Identifiable by its heart-shaped leaves and bright white flowers, this plant can damage exterior walls and other structures, like drains, paths, or fences. During early Spring, Japanese knotweed also develops a bamboo-like stem. This can grow up to seven inches and is strong enough to damage the foundations of your property.

Damage to brick is something to keep an eye on if you’ve discovered Japanese ivy on your property. There are multiple ways the plant can impact exterior walls, with just a few listed below:

  • Dislodging Brick: Japanese knotweed can loosen and crumble mortar, allowing water to get behind the brick. This also increases the risk of interior damage.
  • Weakening Vulnerable Structures: Not only can Japanese ivy damage the structure of a building, but it can also weaken other vulnerable structures. For example, free-standing walls can become destabilised by the added weight or the way the plant is affected by wind.
  • Hiding Other Problems: An excessive growth of the plant could be hiding other problems on your exterior walls. If gone unnoticed, this could lead to a range of issues, including dampness.

Blocking Gutters: Keeping your gutters clean and free-flowing is important to the health of your property’s structure. Unmanaged ivy can block your gutters, leading them to overflow and cause further damage.

Does Ivy Cause Dampness On Walls?

There is evidence that Japanese ivy can be both a blessing and a curse to your walls. According to the Royal Horticultural Society (RHS), a dense patch of ivy could be hiding damp problems, allowing them to go unnoticed and get worse. Other research also shows that ivy may prevent damp from evaporating effectively.

However, there is also ample evidence to show that Japanese knotweed can provide some benefits to your property. It can shield your brickwork from heavy wind and rain, which can both cause damage and lead to damp. The effect of ivy on your property varies depending on location, building materials and other aspects of the building. 

Unsure whether Japanese ivy is helping or harming your home? Get in touch with Crest Surveyors today to find out more.

Should You Remove Ivy From Walls?

It’s illegal to attempt to remove and destroy Japanese ivy yourself, under the Environmental Protection Act 1990. This plant is fast-growing and difficult to remove, so a specialist will need to take down and destroy any you find on your property.

If you’re looking to purchase a property that may have Japanese knotweed damage, you’ll first need to investigate the extent of the damage. You can find out more about how ivy can affect the buying process here.

Does Ivy Devalue A House?

Japanese knotweed is known to decrease house prices by 10 to 15%, depending on the severity of the case. If you’re planning on selling a property, you’ll need to disclose the presence of the plant. It’s best to do this before you put your property on the market, so you can get an accurate valuation and a treatment plan can be put in place.

How Can We Help?

Here at Crest Surveyors, we have an expert team on hand to help you find out the extent of your problem and what to do next. We can give you a hand figuring out which survey will be best for you, or give you more information on the effects of Japanese knotweed on your property.

Get in touch today to learn more about your home, whether you’re buying, selling, or renting.

Japanese Ivy FAQs

Can You Get Rid Of Japanese Knotweed?

Yes, it’s possible to treat and dispose of Japanese ivy. As it’s an invasive plant, you’ll need specialist help to make sure you’re following the law and minimising the spread.

Who’s Responsible For Removing Japanese Knotweed?

It’s the landowner’s responsibility to safely remove and dispose of this plant.

What If My Neighbour Is Growing Japanese Ivy?

You may need to examine whether the plant is present on any neighbouring properties that present a risk to your building, especially if you’re planning to purchase. Let them know as soon as possible and, if they don’t treat the growth, you may be able to bring a claim against them.

How Much Foundation Movement Is Acceptable?

Posted on by Thomas Awoleye

Significant foundation movement can be a sign of structural damage which can be costly to repair. If you’re concerned about foundation movement, you need to know how much movement is acceptable and how much is cause for concern. 

Most building codes define acceptable foundation movements in millimetres over a specific period. For a residential building, an acceptable foundation movement is less than 25 mm over 12 months. Lateral movement (from side to side) should not exceed 6 mm.

Read on for a more detailed explanation of acceptable foundation movement, the causes and the warning signs to look for. 

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How Much Foundation Movement Is Too Much?

Although some foundation movement is considered normal, excessive movement can compromise the building’s structural integrity and have disastrous long-term consequences. Most building regulations define acceptable foundation movement for a residential structure as a maximum of 25 mm over 12 months. Lateral movement (from side to side) should not exceed 6 mm.

However, the acceptable level of foundation movement can vary based on soil type, the building’s design and local building codes. For example, a single-story building, such as a bungalow, can typically tolerate a higher level of movement than a multi-story building. 

If you’re concerned about foundation movement in your property or a building you’re purchasing, it is essential to book a building defect survey to assess the problem. If you want the most comprehensive survey, a full structural survey might be the better option. Have a look at our blog, ‘What Is Looked at in a Full Structural Survey?’, for more information about what is included. 

What Causes Foundation Movement?

There are a range of issues which can result in foundation movement. Here is an overview of the most common causes. 

Poor Drainage

If your property has insufficient drainage, the added moisture saturates the soil making it expand. This causes uneven support and puts pressure on the foundation walls causing movement. Poor drainage can be caused by blocked gutters, damaged roofs, negative slopes and standing water.

Tree Roots and Plants

Invasive tree roots can also cause foundations to shift over time. Other plants, such as Japanese Knotweed, can also cause significant structural issues. 

Environmental Changes 

Extreme weather conditions can also damage foundations, although this is rare. Heavy rain can cause soil to swell, while drought causes the soil to shrink. This can cause the foundation to shift and impact the property’s structure. 

Soil Type

Soil type and composition can impact the long-term stability of foundations. Clay soil can change significantly in volume as the moisture content changes, which can lead to foundation movement if it has not been accounted for during construction

Negligent Construction

If low-quality materials have been used during construction or the foundation has been laid incorrectly, this can result in foundation movement and significant damage that is costly to repair. If you’re thinking of buying a property, a RICS Homebuyer Survey is essential to assess the condition of the building. 

What Are the Signs of Excessive Foundation Movement?

There are several signs of excessive foundation movement that you should look out for when viewing a property or if you’re concerned about your building’s foundations. 

These signs include:

  • Sudden cracks on interior and exterior walls, floors, tiles or ceilings. 
  • Doors and windows which stick or don’t function properly.
  • A visible lean or tilt of the building or a leaning chimney.
  • Bending walls or gaps appear between the wall and the floor or ceiling.
  • Creaking or cracking sounds.
  • Rot or dampness issues.

When Should I Be Worried About Foundation Cracks?

One of the most common signs of foundation movement is cracks. However, it can be difficult to tell the difference between harmless cracks as a result of normal settling and cracks which indicate structural damage and a shifting foundation.

If you notice the following in your property or the property you’re purchasing, you should book a building survey by a registered surveyor:

  • Large cracks that are wider than 4mm
  • Cracks which are wider at one end
  • Cracks that get bigger over time
  • Horizontal cracks in foundation slabs 
  • Significant diagonal cracks
  • Stairstep cracks in brick walls 
  • Cracks that go across the ceiling and down a wall
  • Several cracks grouped together 

Structural Surveys in London by Crest Surveyors

If you are concerned about foundation movement in your property or a building that you are purchasing, you must get this looked at as soon as possible. The RICS-qualified Chartered Surveyors at Crest are here to help. 

A building survey is the most suitable option if you need to diagnose defects, damages, and potential issues with a property, including foundation movement and structural damage. Crest Surveyors offers comprehensive RICS Building Surveys in London and the South East of England.

To learn more about what’s included in our building survey or speak to one of our experts about your foundation movement issues, get in touch with us today. Call us on 020 3940 1118 or fill out our contact form.

Foundation Movement FAQs

What Is Foundation Movement?

A foundation or structural movement is when a property moves away from its original foundations. Any issues with a property’s foundations must be identified and rectified quickly to ensure the building is safe and structurally sound. Any foundation movement can be identified by a RICS-qualified surveyor using a Building Survey.

How Much Foundation Settling Is Normal?

A small amount of settling in the first few years after a home is built is normal. Thin hairline cracks may appear. However, it’s still essential to be vigilant and monitor any cracks to ensure there are no structural problems. 

Non-structural cracks should be vertical and 5-15 cm long. Wider cracks, longer cracks or any diagonal or horizontal cracks could be a sign that something is wrong with the foundation and you should seek professional help. 

What Are the Red Flags on a House Survey?

Posted on by Thomas Awoleye

Many of our clients are overwhelmed by the number of things that they should be looking out for when buying or viewing a property. Because of this, it’s very easy to miss an important issue that you haven’t even thought about. That’s why we wrote this guide to the biggest red flags on a house survey and why they’re important. So, what are the red flags on a house survey?

The main red flags that come up on a house survey include:

  • Damp
  • Structural issues
  • Asbestos
  • Invasive plants
  • Damaged drains & gutters
  • Infestations
  • Roof issues
  • Poor insulation 

Hiring an experienced RICS Surveyor will ensure that none of these issues are missed, and could save you thousands of pounds on unexpected repairs and maintenance.

Read on to find out more about the red flags on a house survey, why they’re important, and who pays to fix them.

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What Fails a House Survey?

Technically, you can’t actually fail a house survey. However, it can be marked poorly for many reasons and the survey can state that it is in bad condition. These are the most common red flags that we record on our house surveys.

Damp

If you’ve viewed a lot of properties, chances are that you’ve seen at least one with visible damp issues. We’ve seen everything from poor ventilation causing mould around the windows to water damage through the entire kitchen wall due to a leak upstairs.

Because this covers such a range of issues, the amount that damp can cost to fix varies. These can sometimes be fixed through simple DIY remedies, but in the worst cases, it can cost several thousands of pounds.

To find out about the causes of damp and what to do about it, read our damp issues page.

Structural Issues

Structural issues are much more common than you would think and can be one of the most costly issues to fix. They’re often difficult to notice, which is why you need an experienced RICS Surveyor to complete the survey. 

In general, they can be found by spotting cracks and damage to the structure of the building. Some cracks are completely normal, so the hard part is being able to tell if it’s an issue or not!

Asbestos

Due to its water resistance, heat resistance, chemical resistance, and strength, asbestos was a common building material until it was banned from the UK in 1985 (or 1999 for white asbestos).

Asbestos was banned because when damaged, asbestos releases hazardous fibres that are suspended in the air. If breathed in, they can induce cancer and other conditions such as asbestosis.

Because it’s so dangerous and can be used throughout a house, it can be very costly to remove. You’ll need an asbestos specialist to come and remove it for you, and the removal should never be completed by anyone else.

For more information on asbestos issues, read our asbestos page.

Invasive Plants

Invasive plants like Japanese Knotweed can cause damage to buildings and gardens. Since 2013, it’s been a requirement for house sellers to state whether Japanese Knotweed is present on the property, however, it’s important to check yourselves in case they didn’t notice or hid this information.

For more information on Japanese Knotweed and how it can affect a house, visit our Japanese Knotweed page.

Damaged Drains & Gutters

Damaged or faulty drains and gutters can lead to further damage in other areas of the property. Evidence of ponding, water damage, or a backlog of water can be a sign of drainage issues.

This is generally a cheaper issue to resolve, but if it has already led to further damage you could be looking at a large cost.

Visit our roof & guttering issues page for more information about common faults that may arise.

Infestations

Infestations can cause a lot of anguish in a property and often cost a fair amount to get rid of. Moths and other insects can eat through insulation, which might need to be replaced for the moths to be removed.

The most costly infestation is that of wood-boring insects. If the property is built using timber, wood-boring insects can cause a lot of structural issues. The average cost for removing an infestation can range from £500 – £1,000 for the treatment and repairs.

Roof Issues

Cracked tiles, blocked guttering, and unstable roof structures can all be signs of roofing issues. These can be hard to spot, but a surveyor will look from opposite the house or any nearby, accessible high ground to spot problems.

Costs to fix can be anywhere from £100 for a few tiles to £7,000 for a full roof retile. 

Insulation

Insulation issues can not only be costly to fix, but they’ll cost you more money until you fix them too due to higher heating bills. Potential problems can include damaged insulation, missing insulation, or insulation that isn’t placed correctly.

What Happens After a Bad House Survey Report?

If you’re looking to buy the property and receive a bad survey report, you have the important choice of whether or not to continue your offer. If you choose to continue, you can also reduce your offer to cover the costs of the potential repairs listed in the report.

We’d recommend getting quotes from relevant professionals so that you can show them as evidence for the reduced offer.

Alternatively, the seller can also choose to pay to fix the issues themselves before they sell the property. In this case, you wouldn’t be able to reduce your offer since the issues are fixed, although we’d recommend getting a professional to check over the repairs before moving forward.

RICS House Surveys With Crest Surveyors

At Crest Surveyors, our highly qualified RICS Accredited Surveyors don’t use any industry jargon and complex explanations to ensure that you understand all of the issues in the property. We break everything down with the next steps to take.

For information on our house survey options, visit our HomeBuyer Survey page. You can also use our house survey cost calculator to find out the exact price for your property! For any questions about our services or to book an appointment, get in touch with a member of our team.

What Does a House Survey Include?

Posted on by Thomas Awoleye

Buying a house can be a really stressful process. There are so many things to consider, and this can take away some of the excitement. A crucial part of buying a house is getting your chosen property surveyed. We are going to look at what is included in a house survey and what to expect from your surveyor. So, why is a house survey so important?

A house survey is vitally important because it can highlight any potential defects that a property may have. These issues could devalue the house and therefore allow you to weigh up any potential costs for the work required and negotiate your offer price accordingly.

Read on for more information on what is included in a house survey checklist.

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What Shows up on a House Survey?

A house survey is a physical inspection of the property you are purchasing. You should expect to see information relating to:

  • Walls & Ceilings
  • Uncovered flooring
  • Chimney & Flues
  • Windows
  • Joinery
  • Roof
  • Fireplaces
  • Damp checks
  • General construction 
  • Outside areas including outbuildings, fences and boundary walls.

Does a Surveyor Check the Roof?

A surveyor will do a visual check of the roof and gutters. Usually they will stand across from the property to check for any signs of required repair. They do this to check the general condition and note anything such as missing roof tiles or gutter issues. If you believe there is a problem, it is important to communicate this so the surveyor can take a look for you. 

Will a Surveyor Go in the Loft?

If access to the loft space is available, a surveyor will go into the loft space during their inspection. They will do visual checks of the space, if there are items in the loft they will not be allowed to move these. They do this to check for any signs of damp or mould, and any visible signs of a leak. Do bear in mind that if you are having an inspection in dry weather, a leak may not always be picked up.

Do Surveyors Check Insulation?

A surveyor will not handle or move any loft insulation. However, they can note on the house survey checklist if insulation is present and its condition so you don’t have to check yourself.

Does a House Survey Check Electrics?

Electrics are a specialist area that a surveyor can’t fully inspect. They cannot check for electrical faults or make suggestions on work you may need. A visual inspection of the fixtures and fittings is completed, but this may not give an accurate picture of how efficient the electrical system is overall.

Does a Surveyor Look in Cupboards?

Large cupboards such as under the stairs or where the boiler is kept will be inspected. There is generally no need to look through kitchen cupboards unless the client has requested otherwise.

Will a Surveyor Check the Boiler?

A surveyor will do a visual inspection of the boiler and assess it for any cracks or leakage. They cannot check the installation or pipework. They may also note down the type of boiler fitted in the property. 

Do Surveyors Check Radiators?

No, home surveys do not include checking central heating systems. A surveyor can obtain an EPC (Energy performance certificate), which provides information on the energy efficiency of the home. The surveyor will also use this in the house inspection to check for any discrepancies.

Will a Surveyor Find Damp?

A surveyor will inspect the property for damp. They will have a specialist damp meter that can assess moisture levels and indicate if there is an issue. A surveyor will be experienced in what to look for and will check ceilings, floors, and walls for any damp indicators. 

Do Surveyors Check Every Wall for Damp?

Surveyors will check areas that are more prone to developing damp. If they suspect there is damp, they will further check this using their damp meter. This gives a reading of the moisture content. Damp usually occurs on external walls, so they are likely to pay these the most attention.

Does a House Survey Check Plumbing?

A surveyor may run taps and visually check exposed pipes, but cannot provide specialist advice. Plumbing and pipework is a specialist area that should be checked by a certified tradesperson if you believe there is an issue. 

Do Surveyors Flush Toilets?

Yes, a surveyor will flush the toilet. Perhaps something you wouldn’t think to do when viewing a property. It acts as a basic way to check the drainage system is functioning so that if an issue occurred you would be made aware.

Do Surveyors Check Drains?

No, a surveyor may run taps and flush the toilet but they cannot do a full assessment on the drainage. Any drainage covers on the property will be visually checked but a surveyor cannot carry out a full inspection.

Does a House Survey Check the Garden?

A house survey would include checking outside the property, up to the boundary walls. Fences, outbuildings, garages, and land specified in the deed would be inspected. A surveyor would check for any presence of Japanese Knotweed, an invasive and difficult plant which would significantly affect the property.

Does a Surveyor Check Windows?

Windows are part of the house survey checklist, however they would not all be checked. The type of windows installed would be noted, as well as any visible issues. Your surveyor may perform a spot check of opening a window, but would not be expected to check all in the same way.

Do Surveyors Check Flooring?

Any flooring which is exposed, so original flooring such as floorboards, would be visually checked. The surveyor would not lift up carpets or any other flooring to inspect what is underneath.

Do Surveyors Lift Floorboards?

No, a surveyor is not permitted to lift floorboards or floor hatches, except for those leading to a cellar so they are able to inspect that space.

Are Surveyors Allowed to Move Furniture?

No, a surveyor will not move furniture around. A house survey is to inspect a property visually, so there should be no requirement for moving items of furniture. If there is a particular area that is obstructed by furniture that you would like checking, try to clear this before the inspection date.

Do Surveyors Check Showers?

Showers may be checked during a home survey however it isn’t a mandatory check. They may want to note whether it is in working condition. Any plumbing associated with the shower would not be checked.

Do Surveyors Take Photos?

Yes, a house survey may include some photographs of the property. It may include general front or rear images of the property or a more specific area of the house to aid with their findings.

RICS House Surveys With Crest Surveyors

At Crest Surveyors we provide professional, detailed house surveys for properties in London and the surrounding areas. An RICS level 2 house survey is an important part of purchasing the right property for you. Knowing about potential defects before confirming your offer could help you to negotiate the price down. It’s also nice to know ahead of moving in if there are any issues you could fix beforehand. Depending on the results it could mean you change your mind altogether. See the specifications for the level 2 survey.

We also carry out the RICS Building survey (level 3) in London and the surrounding areas. This is a survey that covers all of level 2, but also focuses on the structural elements of the building.
This survey is useful for properties:

  • That have obvious structural damage or defects.
  • That has a history of structural damage.
  • Where the building is over 100 years old, or is a listed building.
  • Where the property has been extended or altered.

This survey will outline any issues and is much more in-depth. See the level 3 specifications for more in depth information 

. If you are unsure of which survey is best for you the RICS have a helpful guide on all types of survey available. Contact our RICS qualified specialists today to discuss or book in your property survey.

What Is a Probate Valuation?

Posted on by Thomas Awoleye

Probate is often a stressful and emotionally taxing time for many, and it can seem convoluted to those that are going through it for the first time. We’ve created this easy guide to help you understand the world of probate valuations. So, what is a probate valuation?

A probate valuation is a way of analysing the value of a person’s assets when they die. This is calculated using the value on the date of the owner’s death. While all of the individual’s assets might need to be assessed, a property valuation for probate only focuses on the value of the property itself.

Read on to find out more about probate valuations, how they work, if you need a RICS valuation, how much it costs, and more.

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What Is a Probate Valuation?

The probate valuation of a property is a system of analysing the value of a person’s owner assets when they pass away. Due to recent changes to inheritance tax thresholds, this is an important task in the bereavement process.

The value of their property and possessions is assessed and calculated based on the date of their owner’s death, using a realistic selling price on the open market. In the case of the probate valuation of a property, this should be completed by RICS chartered surveyors to ensure that HMRC will accept the valuation if inheritance tax becomes an issue. Currently, any assets of £325,000 or less will not be required to pay inheritance tax, but if the estate falls above this threshold then 40% of the value will be deducted for tax.

How Do Probate Valuations Work?

For the general items and possessions of most people, you’ll be able to assess the price yourself by comparing the item with similar items that are being sold online. Start by making a list of each item they owned, before searching for the same item online and comparing the price.

For the property valuation, a RICS surveyor will assess the overall value of the property to calculate the market value of the property at the time of death. This will provide a reasonable price of what the property will likely sell for.

For any antiques or one of a kind items, such as pieces of art, it’s best to get in touch with a professional valuation expert in that field to get an accurate estimate.

What Is Included in a Probate Valuation?

Generally, all of the individual’s assets will need to be accounted for, including removing any outstanding debts. However, this will need multiple valuations depending on the assets that are being assessed. A property valuation for probate will only deal with the value of the property itself and other valuations are needed for possessions and other assets.

The probate valuation of the property will also take into account what houses are selling for in the area at the time of death.

Do I Need a RICS Valuation for Probate?

There are several reasons why you might need to gain a valuation of an estate for probate. These include:

  • Where the value of the estate is needed to make the probate application.
  • To find out if inheritance tax needs to be paid (depending on the overall value).
  • To calculate the capital gains tax on any individual items that have increased in value since the date of death.
  • To pay off all debts held by the estate and ensure that funds are correctly distributed to the beneficiaries.

During the probate process, you should prioritise the valuations process as this will need to be completed to proceed with the next steps. You won’t be able to obtain a grant of probate until you have completed the inheritance tax forms, which require the valuation of the estate to complete.

For more information, read our guide, do I need an official house valuation for probate?

How Much Does a Probate Valuation Cost?

A property valuation for probate from Crest Surveyors starts from £500 including VAT. While this may seem like a lot at first glance, ensuring that the property is correctly valued is essential to avoid any unnecessary taxes and get a good price on the sale. This means that a probate valuation could actually save you money in the long run!

What Is the Difference Between Insurance Valuation and Probate Valuation?

While a probate valuation is conducted after the passing of the estate owner and values the estate based on the realistic market value of the item or property, an insurance valuation is very different.

This will assess the replacement cost of an item or property, i.e. how much it would cost to completely replace it. The insurance valuator will assess the entire property and all of its contents, similar to a probate valuation, but the overall valuation will be much larger. It is done in this way because if the property burned down, the insurance would cover replacing the entire thing and all of its contents. The cost of doing so would not match the cost of selling the property, as they would have to buy it new and pay for all the labour costs.

For more information on insurance valuations, visit our insurance reinstatement cost assessments page.

RICS Property Valuations for Probate With Crest Surveyors

At Crest Surveyors, all of our valuers and surveyors are RICS certified and it’s our mission to provide great value and a professional service. Our property valuations for probate are created with you in mind, giving you the best valuation possible so that you can be confident of your capital gains or inheritance tax payments.

By going through a trusted RICS surveyor you’ll also be more likely to be accepted by HMRC, making the process a lot smoother and easier. Get in touch with a member of our friendly team or visit our house valuation for a probate page.

Probate Valuation FAQs

How Long Does a Property Valuation for Probate Take?

Usually, a property probate valuation will take anywhere from 30 minutes to two hours. This will depend on the size of property and any unique circumstances or particularities that might be within the property. Once the valuation is complete, the report will be delivered within 6 working days of the valuation.

Is a Probate Valuation Lower Than Market Value?

No, probate valuations are not generally lower than market value. The probate property valuation is simply the value of the property at the time of death, due to the volatility of the housing market, this can rise or fall between probate and sale. This will usually be a minor difference or almost no difference at all.

For more information, read our blog on the difference between market value and probate value.

How Much Does an Estate Have to Be Worth to Go to Probate?

The value of the estate is not a defining factor for whether or not it needs to go through probate. Instead, this depends on a number of factors such as the type of assets in the estate and whether the deceased person left a valid will.

For a general rule of thumb, if the person that passed away owned property or land then the estate will need to go through probate regardless. If you’re unsure, it’s always best to check with a solicitor to ensure that you’re covered.

What to Do if Property Sells for More Than Probate Valuation?

If a property is sold at a higher value than it was originally valued for probate at the date of death, this could result in being charged capital gains tax. Capital Gains Tax is the tax on profit when you sell an asset that has increased in value. This taxes the amount you gain, and not the actual amount of money you receive in total.