Deceased Estate & Probate Valuations Melbourne

Independent Deceased Estate & Probate Property Valuations in Melbourne

ValuConsult provides independent property valuations for deceased estates and probate matters across Melbourne and Victoria. Valuations may be required to establish the market value of real property for estate administration, probate, taxation, asset distribution, transfer or sale purposes.

Depending on the purpose of the valuation, the required valuation date may be the date of death, a current date or another relevant retrospective date. We recommend that executors, administrators and beneficiaries confirm the appropriate valuation date and requirements with their solicitor, accountant or other professional adviser.

Deceased Estate & Probate Valuations Melbourne – residential property with valuation documents

When Might a Deceased Estate Property Valuation Be Required?

A deceased estate property valuation may be required for a range of estate administration, taxation and property transaction purposes, including:

  • establishing the market value of property as at the date of death
  • assisting with probate and estate administration
  • supporting taxation or accounting requirements
  • assisting with the distribution of estate assets between beneficiaries
  • establishing value where a beneficiary proposes to retain or acquire an interest in the property
  • supporting the transfer of property from an estate
  • assisting with a proposed sale of estate property
  • resolving differences concerning the value of property forming part of an estate
  • establishing a retrospective market value where required

The appropriate valuation date and basis will depend on the purpose of the valuation and the instructions provided.

How Is a Deceased Estate Property Valued?

The valuation is undertaken having regard to the property, the relevant valuation date and the purpose of the assignment. Depending on the property type, consideration may be given to:

  • location and surrounding neighbourhood
  • land area, configuration and site characteristics
  • buildings, improvements, accommodation and condition
  • planning controls and development potential, where relevant
  • leases, rental income and outgoings for investment property
  • comparable property sales and other relevant market evidence
  • property market conditions prevailing at the relevant valuation date
  • the valuation methodology appropriate to the property and purpose

The resulting valuation report provides an independent assessment of Market Value supported by the available property and market evidence.

Illustration of the deceased estate property valuation process, including property assessment, market analysis and valuation reporting

Retrospective Property Valuations for Deceased Estates

A deceased estate property valuation may require an assessment of Market Value as at a past date, such as the date of death, rather than the current date.

ValuConsult undertakes retrospective property valuations for deceased estates throughout Melbourne, drawing upon historical property sales, market conditions and relevant property information available for the applicable valuation date.

These valuations may assist executors, administrators, beneficiaries and their professional advisers with estate administration, taxation matters and the assessment of property interests.

The valuation date and purpose of the assessment are established in accordance with the client's instructions and the relevant requirements of the assignment.

What Types of Property Can Be Valued for Deceased Estates?

ValuConsult provides independent deceased estate and probate valuations across a broad range of property types in Melbourne and surrounding areas, including:

  • Detached houses, townhouses, units and apartments
  • Vacant residential land and residential development sites
  • Commercial offices and strata office premises
  • Retail shops and mixed-use properties
  • Industrial warehouses, factories and industrial units
  • Residential and commercial investment properties
  • Rural lifestyle properties and acreage holdings

Each property is assessed having regard to its characteristics, relevant market evidence, valuation date and the purpose of the assignment.

Why Choose ValuConsult for Deceased Estate & Probate Valuations?

ValuConsult provides independent property valuation services throughout Melbourne and surrounding areas, drawing on over 18 years of professional valuation experience.

Our valuation services are primarily undertaken by our Principal Valuer, a Certified Practising Valuer (CPV) with postgraduate qualifications in Property Valuation and a degree in Civil Engineering. His engineering qualifications and practical experience provide a strong technical foundation in structural and geotechnical engineering, together with expertise in building materials. This combination of valuation experience, professional qualifications and technical expertise supports independent, well-reasoned property valuations for deceased estate and probate purposes.

  • Broad Property Expertise: Experience across residential, commercial, industrial, retail and other property classes, including properties with unusual characteristics or valuation complexities.
  • Direct Access to Senior Expertise: Clients deal directly with our Principal Valuer or a senior valuer throughout the valuation process, ensuring experienced professional attention and personalised service.
  • Clear & Well-Reasoned Reports: Professionally prepared valuation reports with transparent reasoning, relevant market evidence and conclusions appropriate to the stated purpose.

FAQs About Deceased Estate & Probate Valuations Melbourne

Is a property valuation required for probate in Victoria?

A formal property valuation may be required when administering a deceased estate, depending on the circumstances and the requirements of the executor, administrator or their legal adviser.

An independent valuation can establish the property's Market Value as at the date of death, providing supporting information for estate administration, asset distribution and other relevant purposes.

For general information about probate applications and estate administration in Victoria, refer to the Supreme Court of Victoria.

Can a deceased estate property be valued retrospectively?

Yes. A retrospective property valuation assesses the property's Market Value as at a specified historical date, such as the date of death, rather than its current value.

ValuConsult undertakes retrospective deceased estate valuations using relevant historical sales evidence, property information and market conditions prevailing at the required valuation date.

These valuations may be required for estate administration, taxation, asset distribution or other purposes identified by the executor or their professional advisers.

What information is needed for a deceased estate property valuation?

The information required will depend on the property type, valuation date and purpose of the assignment.

Generally, useful information includes the property address, relevant valuation date, ownership details and any available plans or information about the property's improvements.

For investment properties, lease agreements, rental details and outgoings information may also be required.

For retrospective valuations, historical photographs, floorplans and details of renovations or alterations can assist in establishing the property's characteristics at the relevant valuation date.

Is an Inspection Needed for a Deceased Estate Property Valuation?

A physical inspection is generally undertaken to assess the property's accommodation, condition, improvements and other characteristics relevant to its Market Value.

However, where an inspection is impractical or the valuation relates to a historical date, a desktop assessment may be possible, depending on the purpose of the valuation, the information available and any applicable professional requirements.

ValuConsult can advise on the appropriate approach after reviewing the circumstances of the assignment.

How Long Does a Deceased Estate Property Valuation Take?

The time required to complete a deceased estate property valuation depends on the property type, complexity of the assignment, availability of relevant information and whether an inspection is required.

Retrospective valuations may require additional research into historical property characteristics and market evidence.

ValuConsult can provide an estimated turnaround time once the property details and valuation requirements have been reviewed.

Can a Deceased Estate Property Valuation Be Used for Capital Gains Tax Purposes?

Yes. A deceased estate property valuation may be required for Capital Gains Tax (CGT) purposes, particularly where an inherited property is subsequently sold.

Depending on the circumstances, a retrospective valuation may be needed to establish the property's Market Value as at the date of death or another relevant date.

ValuConsult provides independent retrospective property valuations supported by historical market evidence. Whether a valuation is required for CGT purposes, and the appropriate valuation date, should be confirmed with an accountant or tax adviser.

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