Managing Estate Sales
Estate Sales are used as a means of liquidating property and assets. Handling an estate is one of those issues that many people know little about until they actually go through the experience. Therefore we want to supply you with a bit of insight below into the routine of estate settlement as it concerns real estate appraisals.
Whenever an estate carries an exchange of title due to death or inheritance, it is very common for a real estate appraisal to be expected for tax reasons. Often times within the settlement process either an attorney or accountant will order an appraisal or have a family member or executor select an appraiser for the job at hand which is often times the scenario.
How long should I wait to order an Estate Sales Appraisal?
It has been our practical experience that estate appraisals are generally ordered around 2-6 months after the loss of a loved one or inheritance of a property. From time to time an appraisal is ordered right away while in other cases the time frame may be as long as a year or more with regards to the circumstances at hand.
Retrospective appraisals are not unusual in estate settlement situations. These include appraising a home based on a ‘preceding date’ which is usually the owners date of death, hence the reason why estate appraisals are often referred to as ‘date of death’ appraisals.
In addition to needing a retrospective or date of death appraisal throughout the settlement process, usually the ordering party will also request a ‘current value’ appraisal in order to determine current market value for achieving sale or settlement between beneficiaries.
Let us help with your Estate Sales Appraisal
No matter your needs or the elapsed time, our group of certified appraisers at Appraise Denver Xpert understand the challenges involved in assessing the worth of a property under these difficult circumstances and we’ll present you with the best possible experience.
Remember, each and every estate situation differs and the kind of appraised value required all hangs on the specific needs of the estate. This is not something you need to worry about as an effective attorney or accountant can certainly help point you towards the type of valuation required for the estate. In addition, we are happy to talk with your attorney or accountant to sort out exactly what is required for your situation.
Our Senior Appraiser, Anthony Ridley, has nearly twenty five years’ experience in addressing estate and date of death valuations. In fact, countless attorneys, accountants and financial advisers have come to rely on Anthony Ridley and Appraise Denver Xpert for our opinion of values when developing real property values during estate settlement proceedings.
You can also reach us at (720) 434-8527.
– We look forward to hearing from you.
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