Estate Settlement Appraisal
Date of death appraisals, retrospective appraisals, probate appraisals, estate appraisals, and stepped-up basis valuation support for inherited property throughout California.
An estate settlement appraisal develops an independent opinion of fair market value for real estate involved in an estate. Executors, trustees, heirs, attorneys, and CPAs may need a supported value before property can be distributed, sold, transferred, documented for tax purposes, or used in a beneficiary buyout. The appraisal identifies the property, effective date, market evidence, comparable sales, and reasoning supporting the value conclusion.
Estate settlement does not always require the same valuation date. Some assignments require current fair market value, while others require a retrospective value as of the owner's date of death or another historical date. Those are different appraisal questions. If market conditions or property condition changed after death, the current value and historical value may be materially different.
A Date of Death appraisal is commonly requested when an estate needs the fair market value of inherited real estate as of the date the owner died. Because the effective date is in the past, the appraiser analyzes historical market conditions and comparable sales rather than relying on today's prices. The appraisal should also reflect the property's characteristics and condition as they existed on that historical date.
Estate properties frequently change after an owner's death. A home may be emptied, repaired, remodeled, damaged, left vacant, or prepared for sale before an appraisal is ordered. When a historical value is required, those later changes must be separated from the condition that existed on the effective date. Photographs, prior listings, permits, repair records, invoices, previous appraisals, and information from people familiar with the property may assist with that reconstruction.
An appraisal provides more than an estimated selling price. The appraiser researches the property's competitive market, selects relevant comparable sales, analyzes differences recognized by buyers, and reconciles that evidence into a supported opinion of value. This creates a documented valuation that can be reviewed later by beneficiaries, trustees, attorneys, CPAs, or other intended users.
Estate properties should be valued within their actual competitive markets. Neighborhood boundaries, property type, condition, quality, views, site utility, parking, schools, external influences, and other characteristics can cause nearby properties to attract different buyers. Whether the assignment is current or retrospective, credible valuation requires understanding how the subject property competed in its market on the applicable effective date.
A properly supported retrospective appraisal helps establish the fair market value of inherited real estate as of the date of death.
These reports are commonly used by:
Related appraisal pages:
For a full list of service areas, visit the Bay Area Date of Death Appraiser page.
Desktop retrospective appraisals available throughout California.
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