Deceased Estate & Probate Valuations

PWE Property Consultants & Valuers provides independent valuations of property held in deceased estates across the Perth metropolitan area. We act for executors, administrators, beneficiaries, solicitors and accountants, and every report is prepared by a licensed valuer with over 20 years’ experience.

When is a deceased estate valuation needed?

• Probate and letters of administration. An application to the Supreme Court of Western Australia includes a statement of the deceased’s assets and liabilities as at the date of death. A valuation gives the executor a figure for each property that can be supported if it is ever questioned.
• Capital gains tax. For many inherited properties, the starting point for working out any future capital gain is the market value on the day the person died. Under Australian Taxation Office (ATO) rules this generally applies where the deceased acquired the property before 20 September 1985, or where it was their main residence and was not being used to produce income just before they died.
• Dividing the estate. Where one beneficiary is keeping a property, or properties are being shared between beneficiaries instead of sold, an independent figure gives everyone the same basis to work from.
• Selling estate property. A valuation before sale helps an executor show that the property was sold for a proper price.
• Estate disputes. Where the value of a property is in question, an independent report gives the parties and their advisers a reasoned starting point.

Valuations as at the date of death

Executors often instruct us months or years after the date of death. We value the property as it was on that date, using sales evidence from the period. Where the estate also needs today’s value, for a sale or a distribution, both figures can be provided in the one report. See our retrospective valuations page for how this is done.

What your valuation report includes

• An inspection of the property
• Title and property details
• Analysis of comparable sales evidence at the valuation date
• The market value as at the date of death, and the current market value if required
• A signed report by a licensed valuer, suitable for the estate’s solicitor and accountant and for ATO purposes

Why choose PWE for a deceased estate valuation?

An estate needs a valuer who is independent of everyone with an interest in the outcome. PWE is an independent Perth valuation practice whose three directors are all licensed valuers, each with more than 20 years’ experience. We value houses, units, vacant land, and commercial and industrial property, so one firm can cover everything the estate holds. We deal directly with the executor or the estate’s solicitor.

We also provide capital gains tax valuations and stamp duty valuations, which estates and beneficiaries often need as well.

Frequently asked questions

Do I need a valuation to apply for probate?

The application must set out the deceased’s assets and liabilities as at the date of death. Your solicitor can advise what the court needs in your case. An independent valuation gives you a figure you can support, and the same report is usually needed for tax purposes.

The person died some years ago. Can you still value the property?

Yes. We regularly value property as at a past date, using sales evidence from that time.

Is a real estate agent’s appraisal enough?

An agent’s appraisal is an estimate, not a formal valuation. ATO guidance treats valuations by professional valuers as more credible, and a report supported by sales evidence is far easier to defend if the figure is questioned by the ATO or a beneficiary.

We are selling the inherited home. Do we still need a valuation?

Possibly not for tax. An inherited main residence that is sold within two years of the death is often exempt from capital gains tax. Your accountant can confirm whether that applies. A valuation may still be useful for probate, or for setting the sale price.

What do you need from me?

The property address, the date of death, the name of the executor or administrator, and access for an inspection.

Which areas do you cover?

We value property throughout the Perth metropolitan area.

Talk to a valuer

Call (08) 9228 9955 or send us a message to discuss your deceased estate valuation.

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