Appraisal Articles 2019 Free Appraisal Articles for Appraisers and the Public

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Estate and Probate Appraisals

Gifts, Basis Determination, federal and state estate tax returns, partial interests, listings, sale to a relative or a non-relatives and partitioning of estates

The Need for Estate Appraisals

by Administrator on Apr 10, 2015 Estate and Probate Appraisals 2150 Views

The baby-boomers, a group estimated at 78 million Americans born between 1946 and 1964, is finally working its way toward the end of the proverbial “snake” and with that movement through time comes a tremendous corresponding movement of real estate and personal property assets and many of those assets will require appraisals. There are appraisals required when transfers are going to be made, when a property is going to be listed for sale, when assets are being value for tax purposes, when there are partial interest or fractional interest owners and when a property is going to be gifted.

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Probate Appraisals

by Bill Rigdon on Aug 15, 2015 Estate and Probate Appraisals 1921 Views

There are many more people who pass from this world without a Last Will and Testament than you might imagine and their real property or real estate assets often end up being controlled by a Probate court. Appraisers usually become involved in a probate case through attorneys who need to get the real properties valued and sold. Probate appraisals present a special challenge to appraisers because the eventual sale of a real property assets by the court, often through a real estate broker, can be slow due to negative market forces (a weak economy) and a market sale can take a relatively long time. Thus there is a motivation to resolve Probate by liquidating real properties and appraisers must consider that fact in their appraisal reports.

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Internal Revenue Service IRS Real Estate Appraisals

by Administrator on Apr 10, 2017 Estate and Probate Appraisals 1342 Views

Appraisers often complete appraisal reports / valuations for the purpose of meeting IRS requirements. When real property changes ownership the sales price usually determines tax impacts, but there are many other events, like death, partial transfers, bankruptcy, divorce, probate, condemnation, gifts, donations and trust conveyances to name a few when the IRS wants to know what the value of a property was as of a date certain. Appraisals are thus often completed as of a retrospective date or as of a “date-of-death.” It is important for appraisers to ask and for clients to advise an appraiser that a report is required as of a date other than the current date. Having to appraise a property over as of another date is like having to do it entirely over again because the economy and the real estate market can change dramatically in 6-months.

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Using Third-Party Software

Nov 13, 2015 • 1917 Views

Imperfect Market Information

Nov 24, 2015 • 1640 Views