What is a Retrospective Valuation
Retrospective Valuation Reports or Red Book Valuations as they’re otherwise known are usually required for residential property when someone passed away or an estate has been split in the past and a valuation was not undertaken at the time.
In order to undertake a Retrospective Valuation the Valuer will need details of the condition of the property on the date the valuation is required. This may be due to probate, divorce, family or Trust Fund purposes when an accurate historic valuation may be required.
A Retrospective Valuation will enable you to:
Determine the property value on any given date
Provide HMRC with a realistic valuation for tax purposes
May help to reduce tax paid on an estate
Plan for estate and tax purposes
What's included in a Retrospective Valuation
It’s really important that you get the right company to do a Retrospective Valuation for you as the wrong valuation could cost considerable amounts of money. As Registered RICS Valuers we are specialists at undertaking Retrospective Valuations that can be used for the Courts, HMRC or for various other reasons.
The process begins with gathering comprehensive information about the property in question. This could include its size, condition, location, and noteworthy features—any changes or improvements made to the property since the retrospective date will be carefully evaluated.
We have carried out Retrospective Red Book Valuations in Bournemouth, Poole and Christchurch for a number of clients for many reasons. We have expert knowledge of the local housing market to help you get the right valuation for your purposes. We are recommended by a number of local solicitors and estate agents to undertake this service and can help you through the process in a swift and efficient manner.
If you need any advice on the process of obtaining a Retrospective or Red Book Valuation please call us on 01202 531919 or click here to contact us and we’ll be happy to guide you through the process and give you a valuation quote today.
