Estate work often requires a retrospective appraisal: an opinion of value as of a date in the past rather than today. A common example is a date-of-death valuation used in estate administration.
The effective date matters
The appraiser analyzes the property and market as of the required historical date. That means the most relevant market evidence may be sales and conditions from around that time rather than current listings or today’s market.
Information that can help
If available, provide the property address, required effective date, contact information for access, and any records showing major improvements or changes to the property. If the home has changed significantly since the historical effective date, let the appraiser know.
Who commonly orders these appraisals?
Executors, personal representatives, trustees, attorneys, accountants, beneficiaries, and property owners may request estate-related valuation work depending on the circumstances.
Plan ahead when possible
Historical assignments can require additional research, especially when the effective date is several years in the past or the property is unique.
Learn more about our estate and probate appraisal services.