estimation of an inherited property: what every family should know

extract: Learn how to estimate an inherited property, avoid tax pitfalls and choose the right experts to protect your family’s wealth.

introduction

Settling an inheritance with real estate always starts with one key step: a fair, well-documented valuation of the property. The value you declare to the tax authorities directly impacts inheritance tax, the fairness between heirs and the success of a future sale. Done properly, this valuation protects your family from disputes and from costly tax reassessments.

core principles of inheritance property valuation

In an inheritance, the key figure is the market value of the property on the date of death. This value is not the purchase price, nor a “wish price”, but what a buyer would reasonably pay in the current local market. For a flat or house in areas like Massy, Palaiseau, Chilly-Mazarin or Antony, it depends on location, condition, surface, energy rating and recent comparable sales.

The valuation is formally used for the inheritance tax return, which usually must be filed within six months of the death in mainland France. A realistic valuation avoids two symmetrical risks: paying too much tax if you overvalue the property, or facing a reassessment, penalties and late interests if you undervalue it.

notary, estate agent, expert: who does what?

In a standard French succession, the notary coordinates the process and validates the value that will appear in the declaration. The notary’s role is primarily legal and fiscal: he or she must ensure that the declared value is defensible if the tax office checks the file. The notary often uses internal databases of past transactions and may issue a written value opinion.

Alongside the notary, a local estate agent brings granular market knowledge at street and neighbourhood level. By visiting the property, comparing it to recent sales and tracking buyer demand, a good local agent refines the fair price range. In practice, many families combine both: a notary for legal security, and a reference agency such as Nicolas Immobilier for a concrete, “on the ground” view of the market. When a property is very specific or particularly valuable, an independent chartered valuer can provide a full appraisal report.

how to avoid under- or overvaluation

Underestimating an inherited property might seem tempting to reduce inheritance tax, but it is risky. The tax authorities can compare your declared value with recorded sales of similar properties and with official databases. If they consider the value too low, they can recalculate the tax, add late interests and apply penalties, especially if the undervaluation appears intentional.

Overestimating the property is not a good idea either. You will pay more inheritance tax than necessary, and you may need to request a refund later if you prove the value was too high. The most effective strategy is to gather written opinions, keep detailed evidence (photos, diagnostics, quotes for works, local market data), and align the declared value with what the market would realistically pay in your area.

local market context: why it matters

The same surface area can be worth very different amounts depending on whether it is located in Massy, Palaiseau, Chilly-Mazarin or Antony. Transport links, schools, green areas, renovation works and energy performance all influence buyer demand. In inheritance situations, heirs sometimes live far from the property and underestimate these local nuances.

Working with a local agency helps reconnect the property with its real market. For example, a family home close to transport and schools in Massy will not follow the same price dynamics as a flat needing renovation on the outskirts of town. A serious valuation takes all these elements into account, rather than relying only on online averages.

practical roadmap for heirs

The first step is to gather all documents: title deed, diagnostics, last property tax bill, co-ownership minutes if relevant, list of works and any existing rental contract. Next, arrange at least one on-site valuation with a local estate agent and discuss the findings with your notary. If heirs do not agree, organising a second opinion can help ease tensions and converge towards a fair value.

If the property is rented, a discount may apply depending on the remaining duration of the lease and the tenant’s profile. If only the bare ownership is transmitted, the value is calculated using the official life interest scale based on the age of the usufructuary. These specific situations should always be analysed with a professional.

why work with nicolas immobilier

Nicolas Immobilier is a local agency based in Massy, Palaiseau, Chilly-Mazarin and Antony, recognised for its strong expertise in valuations, including for successions. The team combines precise market data with on-site visits to deliver realistic, documented value ranges tailored to your situation. You can discover the agency, its story and its local positioning here: https://nicolas-benoit-immobilier.fr/agence-immobiliere-massy

With more than 1,400 satisfied clients, the agency has built its reputation on transparency, responsiveness and human support, especially in sensitive moments such as inheritances. Client reviews and success stories are available here: https://nicolas-benoit-immobilier.fr/temoignages#temoignages

Nicolas Immobilier also offers a free online valuation tool by town for a first estimate of your inherited property, before any on-site visit: https://nicolas-benoit-immobilier.fr/estimation-en-ligne This digital approach is complemented by field expertise, ensuring that your final valuation is both modern and firmly anchored in real market conditions.

short bio – nicolas immobilier

Nicolas Immobilier is an independent real estate agency operating in Massy, Palaiseau, Chilly-Mazarin and Antony. Specialising in sales, valuations and inheritance-related transactions, the agency is led by Nicolas Benoit, a local expert known for his in-depth knowledge of the market and his commitment to bespoke support. Combining digital tools with a strong field presence, Nicolas Immobilier helps owners, buyers and heirs make informed decisions and secure every stage of their project. To learn more about the agency, its commitments and its media coverage, visit