Historic property condition
Photographs, previous reports, plans and other records can help establish accommodation, specification and condition at the valuation date.
Probate & retrospective valuation
Need a property valued as at an earlier date?
A retrospective valuation looks back to an agreed valuation date and analyses the property, its condition and the market evidence that would have been relevant at that time. Probate instructions commonly require value as at the date of death.
RICS Registered Valuer Historic valuation date Evidence-led analysis
Valuation date matters
Today's report. Earlier valuation date.
- property condition at the relevant date where evidence is available;
- historic comparable transactions;
- market conditions prevailing at the valuation date;
- clear assumptions where historic evidence is incomplete.
Time-specific evidence
A past value cannot be established by simply applying today's price
The purpose of a retrospective valuation is to form an opinion of value at the agreed earlier date. That requires analysis of evidence relevant to that date, including the property's characteristics and condition, historic comparable transactions and the market environment then prevailing.
Where the property has since been altered or renovated, the report may need to distinguish later changes from the condition and accommodation adopted for the historic valuation. Any special assumptions must be explicit.
Evidence considered
Building a reliable picture of the property and market at the relevant date
Historic transactions
Completed sales around the relevant period are analysed, with differences in size, condition, location and other factors considered.
Market movement
House-price indices and wider market information may support the analysis, but do not replace property-specific comparable evidence.
Assumptions & limitations
Where historic facts cannot be independently established, the report states the assumptions adopted and the limitations of the available evidence.
Typical instructions
A retrospective valuation may be required for:
- probate or inheritance-related purposes, including value as at the date of death;
- a historic family transfer or other transaction requiring an earlier Market Value;
- capital gains or other tax-related advice where a professional adviser requires a property value at a specified past date;
- analysis of value before later alterations or refurbishment; or
- another agreed professional purpose where the relevant valuation date is in the past.
What strengthens the instruction
Useful information where the valuation date is historic
Historic photographs
Images can help establish former layout, specification and condition before later works.
Plans & floor area
Historic or current plans may assist where accommodation and extensions need to be understood.
Previous records
Earlier surveys, valuations, transfer documents and other dated records may provide useful context.
Current inspection
A present-day inspection may still provide important physical evidence, subject to clearly identifying later changes.
Evidence hierarchy: information is weighed according to its relevance and reliability. A value stated in a transfer, asking price or later sale may be useful context, but does not automatically establish Market Value at the historic date.
Common questions
Probate and retrospective valuations
What is a retrospective valuation?
It is a valuation prepared now but with the opinion of value stated as at an earlier specified date. The analysis therefore focuses on the property and market evidence relevant to that historic valuation date.
Can you provide a probate valuation?
Suitable probate and inheritance-related residential valuation instructions can be considered. The date of death, property interest, purpose and intended users should be confirmed before the instruction is accepted.
Do you use today's market value for a historic valuation?
No. The valuation conclusion is tied to the agreed historic valuation date. Later evidence may sometimes help with analysis, but subsequent market movement is not simply substituted for evidence from the relevant period.
What information is useful for an earlier valuation date?
Historic photographs, floor plans, details of alterations, prior reports, transaction documents and information about the property's condition at the relevant date can all assist where available.
Does the report decide tax liability or legal entitlement?
No. The report provides a valuation opinion for the agreed purpose. Tax treatment, beneficial ownership, legal entitlement and the way a value is used remain matters for the appropriate legal or tax advisers.
Historic residential value
Probate and retrospective property valuations in London
SurveyAll considers suitable retrospective residential valuation instructions across South East London and the wider London area, subject to scope, available evidence and the stated purpose.