What is a Date of Death Appraisal?
A Date of Death Appraisal is a retrospective appraisal that is written with an "effective date" at some point in the past. This type of appraisal is often needed for tax purposes, or to support the value of a transfer of ownership due to death or inheritance at a specific point in time.
The most common form used for a date of death appraisal is a General Purpose Appraisal Report written by a Certified Residential Appraiser.
Settling an estate is a monumental learning process, and most people get thrown into it without much notice or preparation. Touchstone Real Estate Services has decades of experience writing date of death appraisal reports for residential properties in Palm Beach County.
In some instances, the client may also want a current market value for the asset, for potential listing of the home or settlement between heirs. In these instances, it sometimes makes sense to get 2 appraisals with one being for the date of death, and another being a current market value. We work with our clients to determine the most appropriate documentation of the valuation tailored to your specific needs.