A date-of-passing appraisal answers a historical question: what was the property worth on the date of its owner's passing? We specialize in retrospective appraisals, which means gathering property records, comparable sales, and market-condition data from the relevant period rather than treating today's market as the answer.
Homeowners, attorneys, accountants, personal representatives, trustees, and beneficiaries may request this work for estate records, probate, basis documentation, a proposed distribution, or another defined use. The adviser identifies how the report will be used. We develop and support the real property value for the agreed effective date.
We do not use the standard 1004 lending form. The report is formatted for legal and tax purposes, not mortgage underwriting.
Date-of-passing appraisal, defined: A retrospective appraisal with an effective date matching the property owner's passing. It is not an estimate of today's sale price.
Why the effective date changes the result
Residential markets change. Comparable sales, financing conditions, supply, buyer behavior, and neighborhood activity may be different today than they were on the historical date. The property may also have been repaired, remodeled, damaged, occupied, or left vacant after the owner passed.
A credible retrospective appraisal separates later events from the facts relevant to the effective date. The report should make clear which date is being valued and which property characteristics are assumed or supported for that date.
This distinction is important when an inherited property is sold later. The later sale price is a separate event. It may inform the analysis when relevant, but it does not automatically establish the value on the date of passing.
Information to gather before ordering
Start with the records that identify the assignment and help reconstruct the property as it existed on the valuation date:
- The property owner's full date of passing.
- The property address and assessor parcel number, if available.
- Deed, vesting, trust, or probate documents relevant to ownership.
- The name of the client and anyone who must be an intended user.
- Written instructions from the attorney or tax professional.
- Prior listings, photographs, inspection reports, or insurance records.
- Permits, invoices, or descriptions of improvements made before or after the date.
- Information about damage, deferred maintenance, occupancy, or renovations.
- A contact who knows the property's historical condition.
- The estate's reporting or court deadline.
Not every assignment requires every item. Missing records do not always prevent the work, but uncertainty should be identified early so the appraiser can determine whether a supportable scope is possible.
What the appraiser does
The work follows the same four phases Chip Holmes uses to explain the appraisal process: consultation, research, market analysis, and delivery.
Confirms the appraisal question
The engagement identifies the client, intended use, intended users, property interest, effective date, and report requirements. If a tax filing or court matter is involved, the attorney or CPA should confirm the instructions.
Documents the current property
Inspection scope fits the assignment, and most estate work is seen. The appraiser may complete a full interior inspection, an exterior-only inspection, or in some cases rely on records and reliable current photos, such as a recent listing. Historical condition is still addressed with period-specific evidence.
Reconstructs the relevant market
The market research is tied to the historical effective date. Comparable sales are evaluated for timing, location, property characteristics, and relevance to how buyers and sellers acted during that period.
Explains assumptions and evidence
If the property changed after the date of passing, the report should identify the information used to address those changes. Photographs, permits, listings, interviews, and repair records can be important.
A date-of-passing value is not automatically a tax answer
Federal tax rules may use fair market value as of the owner's passing in certain circumstances, and an authorized alternate valuation date may apply in some estate tax matters. Ownership, elections, community property questions, prior transfers, and other facts can affect the analysis outside the appraiser's role.
The estate's attorney or tax professional should determine:
- Whether a federal or state filing is required.
- Which valuation date applies.
- Which property interest must be reported.
- How the reported value affects basis or a later transaction.
- What documents should be attached or retained.
For an overview, read Step-up basis and why the appraisal date matters.
Nevada probate and the date of passing
NRS Chapter 144 addresses inventory and appraisement in Nevada probate. It states that a personal representative may engage a qualified and disinterested appraiser to ascertain the fair market value, as of the property owner's passing, of an asset whose value is subject to reasonable doubt.
That does not mean every estate or every asset follows the same process. Nevada law also describes circumstances involving a verified record of value or waiver. The personal representative and probate attorney should decide what is required in the specific administration.
Learn more about probate appraisal services and the estate and trust appraisal process.
What affects the fee and completion schedule?
The assignment becomes more involved when the effective date is older, the property changed materially, records are limited, ownership interests are complex, or the report must address specialized instructions. Access, report format, research availability, and the possibility of testimony also matter.
Eagle Home Appraisal provides assignment-specific terms after reviewing the property, effective date, intended use, available records, and deadline. No standard fee or completion time fits every retrospective assignment.
The published Estate & Trust Appraisal price is $500. A retrospective assignment with added research, multiple interests, limited records, or specialized reporting may require different engagement terms.
Appraisal review and credentials
This professional appraisal content is reviewed by George "Chip" Holmes, State Licensed Residential Appraiser, Nevada license #A.0006387-RES. He has been licensed since December 2005 and appears in the ASC registry under 718720. Kristen N. Aste is a Nevada Certified Residential Appraiser, Nevada license #A.0007406-CR. Eagle Home Appraisal focuses on Non-Lending residential work and prepares competent, credible, and reliable appraisal reports in compliance with USPAP.
Frequently asked questions
Can the appraisal be completed if the owner passed years ago?
Possibly. The appraiser must determine whether sufficient market and property evidence exists to develop a credible retrospective opinion. Older assignments may require more research and historical documentation.
Does the appraiser need to enter the property?
That depends on the agreed scope and available evidence. An inspection can provide important current information, but the historical condition still must be addressed separately. Discuss access and records when requesting the assignment.
What if the house was renovated after the date of passing?
Provide the dates and details of the work. The appraisal should not treat later improvements as though they existed on the earlier effective date unless the evidence supports that conclusion.
Is the county assessor's value the same as fair market value?
An assessor's value is developed for property-tax administration. An appraisal for an estate has its own effective date, intended use, scope, and market analysis. One should not be substituted for the other without advice from the appropriate professional.
Who should order the report?
The client may be a personal representative, trustee, attorney, beneficiary, or another authorized party. When several people are involved, identify the client, intended users, communication rules, and report distribution before the assignment starts.
What should I tell the appraiser first?
Provide the address, date of passing, intended use, adviser contact, property changes, access information, and deadline. Those facts determine whether the assignment can be scoped correctly.
Request a retrospective appraisal
Call Eagle Home Appraisal at (702) 920-4500 or send the assignment details. If you are working with an attorney or CPA, include that person's written valuation-date and reporting instructions.
Trustees seeking a trust appraiser for a historical value should also identify the trust's intended use and the people who must rely on the report.