Unlike a typical appraisal that estimates a property's current market value, a Date of Death Appraisal develops an opinion of the property's fair market value as of a specific historical date. Although the appraisal is completed today, the analysis reflects market conditions that existed on the effective date of the valuation.
A Date of Death Appraisal may be required for a variety of reasons, including:
Attorneys, accountants, executors, trustees, and personal representatives frequently rely on these appraisals to assist with estate settlement and tax matters.
A retrospective appraisal requires specialized research and analysis. The appraiser examines market data that existed on or before the effective date of the appraisal.
Why Experience Matters
Historical appraisals require more than simply reviewing today's market. The appraiser must be able to reconstruct market conditions that existed months or even years earlier using reliable historical data and market analysis.
Selecting an appraiser experienced in retrospective valuations helps ensure the appraisal is credible, well-supported, and appropriate for its intended use.
Erbes Appraisals, Inc. provides independent residential Date of Death and Retrospective Appraisals throughout Erie, Niagara, and Orleans Counties.
With more than 24 years of residential appraisal experience, we work with attorneys, accountants, fiduciaries, executors, trustees, and private clients to provide impartial, well-supported valuation services.
If you have questions about a Date of Death Appraisal or would like to request a fee quote, please contact Erbes Appraisals, Inc.
Erbes Appraisals, Inc. is an independent residential real estate appraisal firm serving Erie, Niagara, and Orleans Counties in Western New York. Donald J. Erbes provides impartial, well-supported valuation services for homeowners, attorneys, fiduciaries, lenders, accountants, and private clients.