A death in the family or in some cases in the company can create more than mourning over the deceased, Sometimes it can result in serious issues and sometimes fighting over the value of real estate amount heirs.
Typically, estate appraisals occur within two to six months of the death of the property owner. Retrospective appraisals, sometimes referred to as “date of death” appraisals, are usually conducted. Current property valuations to determine current market value may also be required in cases where property sales or settlements are occurring. An expert property appraisal service such as TCO Appraisals can handle these particular tasks and more. read more at newswire.net
Like TCO which is based in Carlsbad California, Minnesota Real Estate Appraisal Services based in Roseville, Minnesota offers a complete range of legal appraisal services, including estate appraisals.
Property values can change over time, even if no improvements are made to the property, based on things that are happening around the property. What year would you say was the high and low value point for the brown stone multi story manufacturing facility in the above set of images?
The actual time of death in an appraisal sets the date at which an appraisal must determine value. And while the above timeframe covers many years it does demonstrate that external factors can and do change the potential value.
This is just one reason to be sure to use a qualified real estate appraiser when determining value. At Minnesota Real Estate Appraisal Services we do appraisals that will stand up in court should that be necessary. We do so, so that we frankly do not need to spend a lot of time in court. Our skill and reputation are our hallmark.