An estate appraisal establishes the market value of a property owned by someone who has passed away. Executors, personal representatives, attorneys, and family members use it to settle the estate, document the value of real property for probate and tax purposes, and support an equitable distribution among beneficiaries. Because the value is often needed as of a specific date - commonly the date of death - estate appraisals are frequently retrospective, meaning the effective date of the value is in the past rather than the date of the inspection.
When an estate appraisal is needed
An estate appraisal is commonly required after a property owner's death, when the estate is being administered through probate, when property will be transferred or sold by the estate, or when beneficiaries need a documented value to divide assets fairly. Attorneys and accountants also request estate appraisals to support estate tax filings, where the value of real property must be documented as of the date of death.
How the process works with Sanicola Appraisals
We begin by confirming the purpose of the appraisal and the effective date the value must reflect. For a retrospective appraisal, we research sales and market data from the period surrounding that date rather than relying on current conditions. Where access is available, we inspect the property to document its characteristics; the analysis then applies comparable sales appropriate to the effective date and reconciles them into a supported value opinion. The report documents the methodology so that executors, attorneys, and beneficiaries can rely on it throughout the settlement process.
Sanicola Appraisals, LLC provides estate appraisals in Washington County and Frederick County, Maryland; Berkeley County and Jefferson County, West Virginia.
Request an estate appraisal
Executors, attorneys, and family members can order directly. Call Sanicola Appraisals, LLC at (240) 217-7778 to discuss the property and the effective date your valuation requires.