Date of Death Appraisals
Retrospective valuations to establish the precise market value of a property on a specific past date.
Understanding Retrospective Appraisals
In many estate and trust situations, you don't need to know what a property is worth today—you need to know what it was worth on the exact day the property owner passed away. This is known as a "Date of Death" or retrospective appraisal.
Historical Data Analysis
Performing a retrospective appraisal requires the appraiser to look back in time. We analyze historical market trends, past comparable sales, and the condition of the property as it was on the specific date in question.
Stepped-Up Basis
The primary reason for a Date of Death appraisal is to establish a "stepped-up basis" for tax purposes. This determines the new baseline value of the property for the heirs, which can significantly impact capital gains taxes if the property is later sold.
Why Experience Matters
Retrospective appraisals are more complex than standard current-value appraisals. They require an appraiser with access to historical MLS data and a deep understanding of what the local market conditions were like months or even years ago.
With over 30 years of experience appraising real estate in Los Angeles and Ventura Counties, Joseph Cubas has the historical knowledge and technical expertise required to produce highly accurate, IRS-compliant Date of Death appraisals.
Tip for Executors: It is highly recommended to order a Date of Death appraisal as soon as reasonably possible, while the condition of the property at the time of passing is still easily verifiable.
Ready to Schedule Your Appraisal?
Contact J.P. Cubas Appraisal Services today for an accurate, independent, and professional valuation you can trust.