Do you actually need a property valuation?

By Parish Rao · 25 August 2026 · 6 minute read

We turn work away most weeks, because people ask for a valuation they do not need. It is worth knowing the difference before you spend anything.

When you genuinely need one

• Selling property bought or inherited before April 2001. The 2001 value replaces your original cost for tax, and it usually reduces the bill substantially. This is the single most valuable one.
• Any inheritance involving more than one heir. Not because the law demands it, but because dividing without an agreed number is how families stop speaking.
• Probate. Court fees are calculated on the estate value.
• A bank loan. Non negotiable, and it must be in the bank's own format.
• Court cases involving property. A number without evidence is worthless in front of a judge.
• Visa files that ask for assets or net worth. Your chartered accountant needs a property figure they can defend.
• Insurance. Rebuilding cost, which is a different figure from market price.

When you probably do not

• Idle curiosity about what your flat is worth. Ask two local brokers. It is free and close enough.
• A straightforward sale of a property bought after 2001 where you have the purchase deed and the price was normal. Your cost is already documented.
• Deciding an asking price. Brokers know the current mood of a locality better than any document.
• A visa checklist that never mentions assets or net worth. Ask your consultant before spending.
• An internal family conversation where everyone already agrees. If nobody disputes the number, you may not need to prove it yet.

The grey area, and how to think about it

Some situations sit in between. The test we use is simple: will anybody else need to rely on this number, and would they have a reason to doubt you?

If the answer is no, an informal estimate is fine. If a bank, a tax officer, a judge, an embassy or a sibling who lives abroad has to accept it, you need a document rather than an opinion.

The expensive mistake

It is almost never getting a valuation you did not need. It is skipping one you did, and discovering it after the moment has passed.

Once a sale is registered, your tax position is largely fixed. Once a family settlement is signed, it is very hard to undo. Once a loan is sanctioned on a low figure, renegotiating is a fresh fight. A valuation done in time is cheap. A valuation done too late is often useless.

How to find out for free

Try the which report tool, which asks five questions and names the report you need, or tells you that you do not need one.

Or call and describe the situation. We will tell you honestly, including when the answer is that you should save your money. If you are new to all of this, start with what a property valuation actually is.