A retrospective appraisal determines a home’s value in the past and may significantly impact legal issues, like an estate proceeding. Retrospective evaluations are done when establishing the property’s value at a previous date is necessary, as can occur when the homeowner dies and the estate is selling the property months afterwards. The inheritance taxes due on the home are based on the value at the time of their operator’s death rather than the date the home is disposed of from property.
Find a property appraiser. You may get contact info for an appraiser in your region from the official website of the California Office of Real Estate Appraisers or call the office to learn more at 916-552-9000 and ask a listing of appraisers be sent to you.
Check the appraiser is accredited. Confirm the appraiser’s license status in California on the official website of the California Office of Real Estate Appraisers. Be sure to check for past negative activities against the appraiser on this official website, like a temporarily suspended permit. Telephone the California Office of Real Estate Appraisers at 916-552-9000 in the event that you have any questions about an appraiser’s license information.
Contact the real estate appraiser you select. You will to have to make an appointment to have the retrospective appraisal done. Inform the appraiser which this is retrospective and ask if he is familiar with this type of valuation. Provide the reason for the appraisal so that the zoning covers all essential places. Request about all fees for this service. The charge for the appraisal will depend on the supplier, size of the home and the property’s current market value.
Give all your property documentation to the appraiser. Appraisers will usually accept any applicable property documents you have, like a deed, and the legal document you’ve received to demonstrate your possession of this property, and also the questionnaire, which will be a drawing of your house’s measurements and geographical location. Photographs of the home or property you need appraised along with a copy of any home inspection can assist the appraiser to assess your home’s value.
Organize your home before the appointment. The appraiser needs access to all areas of your home in order to assign a correct value. Eliminate clutter and debris out of all home systems, like the furnace. If you have a crawl space, or little area for home elements, make sure the opening is clear therefore that the zoning may assess the crawl space area.
Be present to the appraisal. Request the appraiser questions if you are not certain about the process and what areas she wants to consider. Examine the comparable home sales information she will use in determining your home’s appraised value. If the company uses a home which has fewer features than your home in the sales comparison, that can drive down your appraisal.