Estate and Retrospective Home Appraisals: Start With the Date

Short answer: Executors and beneficiaries should distinguish date-of-death value, current sale value and heir-buyout value before ordering a residential appraisal.

Which estate decision needs a value?

The estate may need a date-of-death opinion, current value for a sale, current value for an heir buyout or another specifically defined result. Each use has its own users and date. The appraiser values real property, not the entire estate.

How does inherited-property basis relate to the appraisal?

IRS guidance generally connects basis to fair market value at death, subject to exceptions and elections. The executor should rely on qualified tax or legal advice to identify the applicable rule. The appraiser supplies the defined residential value opinion.

Why might two value dates be necessary?

A historical value documents the property and market at the earlier date. A later sale or buyout decision concerns current conditions. Combining the dates or silently substituting today’s condition can make the report unsuitable for either purpose.

What evidence can reconstruct historical condition?

Useful evidence includes dated photographs, listings, plans, permits, repair records and earlier appraisals. Identify improvements or damage after death. A current inspection can describe the home now, but cannot independently prove how every feature appeared earlier.

Does the appraisal set beneficiary shares?

No. It may supply the real-property value used by advisers or beneficiaries. Debt, ownership interests, reimbursements, expenses and distribution terms remain separate. The appraiser does not administer probate, calculate taxes or decide entitlement.

What should be provided for a quote?

Send the property address, purpose, effective date, intended users, deadline and access contact. Describe acreage, accessory units, multiple parcels and available historical records. Avoid sending unrelated medical, financial or beneficiary information with the initial request.

Call 425-753-1971 or email dustin.labrasseur@gmail.com.

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Revised October 8, 2026.