Attorneys and accountants rely on real estate appraisals when calculating real estate values for estates. They need an appraisal report that meets the requirements of the courts and revenue agencies.
Settling an estate is an important, complex and sometimes stressful job. An estate usually requires a real estate appraisal to establish the "market value" for the real estate involved on the date of death. Due to this an estate appraisal is different than the typical appraisal assignment as there different requirements and procedures to follow to complete a retroactive appraisal with an effective date that matches the date of death.
A full appraisal report should be completed and filed with the revenue agencies. The report should be detailed as to how the appraiser arrived at his conclusions and demonstrate to the revenue agency that the value indicated is accurate. A well prepared appraisal will give everyone involved peace of mind which the appraiser can defend if the appraisal is challenged in any way.
Having a real estate appraisal prepared by an experienced real estate appraiser will give the executor solid evidence to the value of the real estate when meeting with the IRS and/or state agency requirements.
To find a local estate appraiser enter the property's zip code in the search box below.
