Probate, expected estate, property valuation

In the case of an expected estate, is an estate agent valuation sufficient for a property valuation? Or can it be based on property sales locally without the need for one?

Hi D629597,
Please have a look at the guidance on valuing an estate here:
How to value an estate for Inheritance Tax and report its value
Thank you. 
 

Hi, we have had three estate agents value the property, two have given a range. Should we use the bottom of the range figure, the top of the range or calculate the mid point? Thanks

Hi,
You will take an average of all 3.
Thank you.

Thanks, my question was about how to use the individual valuations if a range is given. For example if: Estate Agent A values the property at £100,000 Estate Agent B values the property at £100,000 - £130,000 Estate Agent C values the property at £100,000 - £130,000 Should the average of all three be: £100,000 taking the valuation of A with the lower valuations of B and C, or £110,000 taking the valuation of A with the the mid point of B and C or £120,000 taking the valuation of A with the the higher valuations of B and C

Hi,

You will take an average of the 3 taking into account the higher valuation on the 2nd 2.

Thank you.