retrospective appraisalRetrospective Real Estate Appraisals

Most homeowners have never heard of Retrospective Real Estate Appraisals. It is only after a homeowner passes away that the executor of the estate hears of this term. Read on to find out more about Retrospective Real Estate Appraisals and how they can be important to you.

What are Retrospective Real Estate Appraisals?

The term is used when a homeowner dies and the value of his/her home needs to be determined. There are a number of reasons for a retrospective appraisal to be needed, but moving forward with legal proceedings is the primary one. These types of appraisals are done when the homeowner dies and the estate is being sold at a later date. Taxes on the home are based on the value of the home at the time of the homeowners death and not the time that the property is sold by the estate.

How to Get A Retrospective Real Estate Appraisal

  • Find a licensed and qualified real estate appraiser in your area. Appraisals Only is one such appraiser that is qualified to do this type of appraisal.
  • Make an appointment with your appraiser. Click here to schedule with Appraisals Only.
  • Give all of your important documents to your hired appraiser. This includes: property ownership, deed and survey.
  • Make sure that your home is neat and clean for the survey. Your home should be organized to make sure the appraiser can go through your home with ease.
  • Make sure that you are there when the appraiser comes to your home. He/She may have questions for you during the survey.

This will help you understand Retrospective Real Estate Appraisals. As the executor of the estate, it is especially necessary for you to understand as you begin the selling of the deceased homeowner’s property. While the process may seem daunting, it necessary to be informed with your appraiser and to keep in contact throughout the process.