Date of Death Appraisal
A Date of Death Appraisal, or Date of Death Valuation, can assist with determining income/estate tax liability and disposition of assets under a will or in probate. It is an appraisal of what the property was worth on a date in the past.
Varied situations can arise that need an appraisal of property value at a date some time ago, usually due to the death of the homeowner.
Property Value For A Date In The Past
Real property isn't like publicly traded stock or other items because it fluctuates in value, and no historical public data is available.
Because of this, it's important to hire a real estate appraiser with expertise and experience in your local area to correctly evaluate past comparable properties and market trends to give you an accurate historical appraisal.
Date of Death Appraisal Requirements
Date of Death Appraisal requirements include:
You need a professional real estate appraiser, bound by the Uniform Standards of Professional Appraisal Practice (USPAP) for a high degree of confidentiality and professionalism, and you need the kind of quality report that taxing authorities and courts need.
Having a professional date of death appraisal from Master Appraisal Services gives the executor irrefutable facts and figures to work with in going forward with state and county proceedings. You don't need to stress over anything, because we will be there to back up our reports if they are ever refuted.
When Should A Date of Death Appraisal Be Done?
Determining property value at the time of death is straightforward if not too much time has passed. However, varied situations can arise that need a property appraisal for a date some time ago and it’s important to have a licensed, certified appraiser with experience in the local area. In most cases, date of death appraisals are ordered between 2-6 months after the death of an individual.
Schedule Date of Death Appraisal Services
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Give us a call to schedule your property appraisal.