What It Is
A date-of-death appraisal is a certified opinion of a property's fair market value as of the date a person passed away, even if that was months or years ago. The value can help set the new cost basis for inherited property and gives your CPA or attorney a documented number to review.
Why You Need It
When a property is inherited, its tax basis often steps up to the value on the date of death. Establishing that value with a certified appraisal protects the estate and the heirs, and gives your CPA the documentation they expect. Without it, the family may be relying on a guess, an online estimate, or a number that is hard to support later.
IRS Form 706 and Estate Documentation
IRS Form 706 may require the estate to report real property at fair market value as of the date of death. Even when a federal estate-tax return is not required, attorneys and CPAs may need a supportable historical value for step-up basis, probate, allocation, or the permanent estate file. The appraisal documents the effective date, market evidence, analysis, and appraiser qualifications in one signed report.
The estate's attorney or CPA decides the filing requirements and intended use. If the assignment requires a scope beyond a desktop appraisal, Mark identifies that before work begins.
How It Works
We do this as a desktop appraisal. That means no one has to visit the home, no scheduling, and no waiting for inspection access. Mark uses MLS records when available, public records, property data, and comparable sales from the relevant time period to develop a certified, signed value. The final report is prepared by a Certified Residential Appraiser and delivered as a PDF.
Download a sample report to see the format, appraiser certification, and scope language.
What It Costs
The appraisal is $149, plus $50 for a historical effective date. Flat pricing. No hourly billing. No surprise add-ons for standard properties. If a property is unusual, luxury, rural, heavily remodeled, or difficult to compare, Mark will review the scope before work starts.
Confirm the report requirements with the estate's attorney or CPA. No appraisal provider can guarantee universal IRS, court, or agency acceptance because requirements depend on the filing and intended use.
