Executry Property Valuation Scotland: A Guide for Executors
A Scottish-focused guide to property valuation during an executry, including date-of-death values, surveyor reports and later Home Report considerations.
- Executors handling a Scottish house or flat as part of an estate.
- Families who need a property value before deciding whether to sell.
- Beneficiaries who want to understand why an independent valuation may be useful.
An executry property valuation helps establish the value of a property within a deceased person’s estate. It may need to reflect the date of death and may be separate from any Home Report later required if the property is marketed for sale.
An executry property valuation helps establish the value of a property within a deceased person’s estate. It may need to reflect the date of death and may be separate from any Home Report later required if the property is marketed for sale.
Why valuation matters in an executry
When a Scottish estate includes property, the executor needs a clear value for the house, flat or land. This can help with estate administration, beneficiary discussions, tax reporting and decisions about whether the property should be retained, transferred or sold.
An accurate valuation can be especially important where there are several beneficiaries, where the property is unusual, or where the estate value may affect tax or legal decisions. A written report gives everyone a clearer record than an informal conversation.
Date-of-death valuation
Executry valuations often focus on the property value at the date of death. If the surveyor inspects weeks or months later, they may still be asked to provide a retrospective opinion based on the relevant date and available evidence.
Make this requirement clear at the start. A current market appraisal and a date-of-death valuation are not necessarily the same thing, particularly if the local market has changed or the property condition has deteriorated.
Home Report or valuation report?
A Home Report is usually required when a residential property is marketed for sale in Scotland. An executry valuation is usually required to support the administration of the estate. These are related but different purposes.
If the property is going to be sold openly, the executor may eventually need a Home Report. However, the estate may first need a valuation report before any marketing decision is made.
Empty and inherited properties
Inherited homes are often empty for a period. That can affect heating, ventilation, insurance, access, security and maintenance. If the property is later marketed, the Home Report may comment on issues such as damp, services, roofs, alterations or evidence of prolonged vacancy.
Executors should gather documents early, including title information, guarantees, planning or building warrant papers, service records, factoring information and details of repairs or alterations.
Choosing a surveyor
Ask whether the surveyor has experience of executry valuation work, whether the report will be suitable for the solicitor or accountant, whether a retrospective valuation date can be used and what evidence will support the figure.
For a later sale, also ask whether the same firm can provide a Home Report and whether there are any practical steps that would make the Home Report process smoother.
FAQs about executry property valuations
Is executry the same as probate?
Probate is often used as a general search term, but Scottish estates commonly involve confirmation and executry administration. The practical need may still include valuing property in the estate.
Who should instruct the valuation?
The executor or solicitor will usually arrange this, depending on how the estate is being handled. Confirm who the report should be addressed to before instructing it.
Does the property need to be cleared before valuation?
Not always, but safe access helps. The surveyor should be able to inspect key areas, and the executor should make known any obvious defects or restrictions.
Can the executry valuation be used as the asking price?
It may inform the selling strategy, but an asking price should also reflect the current market, estate agent advice, Home Report valuation and the seller’s objectives.