In the first essay, “Understanding Date-of-Death Appraisals” we looked at why an estate may need to establish what a property was worth on the date of death. Once that need is clear, a practical question follows. How do you establish that value when the property or its circumstances have changed?
By the time an executor or trustee calls us, the family may have repaired the roof, renovated the kitchen, or sold the home. In some cases, the house has already been demolished. These circumstances shape how we approach a Date-of-Death Appraisal. We begin by establishing what existed on the valuation date, then look to historical records and market evidence to understand how buyers would have valued it at the time.
If you’re wondering whether your property can be appraised, start with a call. Tell us the address, the date of death, and what you know about the property. Whether it’s a single-family home, a small residential income property, or a home with an unusual history, we can help you identify what information matters and what we can research on your behalf.
How Can an Appraiser Value a Home in the Past?
“My loved one passed away eight months ago. We’ve already cleaned out the house, painted it, and sold it. Can you still tell us what it was worth on this date?”
Yes. A Date-of-Death Appraisal can often be completed even after a home has been renovated, sold, or demolished. A brief conversation about the property, the date of death, and what has changed since then is usually enough to get started. From there, we can help you make sense of the records you already have, identify which details are worth searching for, and explain what we can research on your behalf.
A Date-of-Death Appraisal is a type of retrospective appraisal. The date of death is the effective date, meaning it’s the specific day for which we’re estimating the property’s value. Even if the report is prepared months or years later, we consider the property as it existed on that date and what buyers would have paid for it under the market conditions at the time.
We reconstruct the market. We start with comparable sales and other market evidence from around the effective date. We consider what buyers were paying for similar properties, what alternatives they had, and how differences in location, condition, and features influenced their decisions. A sale that closed afterward cannot be used in the analysis. We weigh that evidence in the context of what buyers and sellers could reasonably have known at the time.
We reconstruct the property and condition. An inspection today, when available, can help us understand the layout, site, and features that were present on the effective date. Dated photographs, prior listings, permits, inspection reports, receipts, and conversations with people familiar with the home can help us establish its earlier condition. If the roof was replaced after the date of death, for example, we look for evidence of the roof’s age and condition on that date and consider how buyers would have responded to it.
What If the Home Has Already Sold or Been Demolished?
A Date-of-Death Appraisal can often be completed even when we can’t inspect the property or drive by it.
If the residential structure was standing on the date of death and has since been demolished, we consider what the home contributed to the property’s value at the time. The appraisal can reflect the property as it existed on that date, provided the available evidence is sufficient to support a credible opinion of value.
Complex residential properties are a specialty at Gatsby Appraisal. If the home was unusual, the site presented challenges, or the property’s earlier condition is difficult to establish, we can talk through those circumstances with you. A brief conversation helps us identify what matters for your appraisal and what we may be able to establish through our research.
What Do You Need to Get Started? A Simple Call.
Start with a call to us. We can help from there. Tell us what you know about the property and why the appraisal is needed. We’ll help you organize the information you already have, explain which details matter, and take on the research we can handle on your behalf. You can reach out while you’re still sorting through the estate paperwork. We’ll work through what’s needed together.
If the property has sold, been substantially altered, or been demolished, mention that when you call. If your attorney or CPA requested the appraisal, tell us who is coordinating it so we can clarify how the report will be used and who needs to rely on it.
Anything you already have can be helpful. A few dated photos, an old listing, a prior appraisal, or a short note about when the kitchen was remodeled may answer an important question. We’ll let you know which records are worth looking for once we understand the property and the assignment.
Frequently Asked Questions
Can I order a Date-of-Death Appraisal months or years later?
Yes. At Gatsby Appraisal, we’re comfortable taking on retrospective assignments with effective dates up to 23 years in the past, drawing on our appraisal experience and historical archives. For each assignment, we consider whether the available property records and market evidence are sufficient to support a credible opinion of value as of the date of death.
Do we need to empty the house before the inspection?
No. Furniture, boxes, and personal belongings can stay where they are. If an inspection is part of the assignment, we need safe access to the rooms, garage, and exterior areas we need to observe.
Who receives the appraisal report?
We deliver the report to the client who engages us. If you’d like us to send a copy directly to your attorney, CPA, or co-trustee, you can authorize us to do so. At the start of the assignment, we’ll also clarify who is intended to rely on the appraisal.
Request a Date-of-Death Appraisal
Gatsby Appraisal serves families, trustees, executors, attorneys, and accountants throughout Los Angeles and Ventura Counties. Call (818) 271-6877 or request an appraisal. Tell us what you know about the property and what you need the appraisal for. We’ll walk you through the rest.
About the Author
Stephanie Goralski is the founder of Gatsby Appraisal and a California Certified Residential Appraiser (AR034917). She has worked in residential valuation since 2003 and has completed more than 5,000 appraisal assignments. Her practice serves Los Angeles and Ventura Counties and includes Date-of-Death Appraisals, retrospective valuations, and the appraisal of complex residential properties.