Q: What is the difference between a current appraisal and a date of death appraisal?
A current appraisal reflects today’s market, while a date of death appraisal determines value as of a past date. These retrospective appraisals are often required for estate settlement and tax purposes.
Q: Are your estate appraisals IRS compliant?
Yes. Our estate and date of death appraisals are prepared in compliance with IRS guidelines and professional appraisal standards, making them suitable for estate tax filings, step-up basis calculations, and probate proceedings.
Q: Why is an appraisal needed for a divorce?
A divorce appraisal provides an unbiased, professional valuation of real estate to help ensure an equitable division of assets. Courts, mediators, and attorneys often rely on certified divorce appraisals during settlement negotiations or litigation.
Q: Can an appraisal be used in divorce court?
Yes. A divorce appraisal prepared by a certified licensed appraiser provides an unbiased valuation that can be used in negotiations, mediation, or court proceedings.
Q: Do I need an appraisal for a FSBO (For Sale By Owner) transaction?
While not always required, an appraisal for a FSBO transaction helps both buyers and sellers determine an accurate fair market value. This can prevent pricing disputes, support negotiations, and ensure a fair private sale.
Q: Can an appraisal help me set a listing price?
Yes. Many homeowners use an appraisal to determine a realistic and defensible listing price before selling their home, especially in unique or complex markets.