When Do You Need an Independent Real Estate Appraisal?

Knowing the value of residential real estate can be important even without a mortgage loan. An independent real estate appraisal can provide a well-supported opinion of value for legal, tax, financial, estate, and personal decision-making.

At Erbes Appraisals, Inc., residential appraisal services are provided throughout Western New York for a variety of intended uses.

Estate, Probate & Trust Administration

Real estate is often one of the largest assets in an estate. An appraisal may be needed to establish fair market value as of a date of death, assist with estate or trust administration, establish a stepped-up basis, or help with the distribution of property among beneficiaries.

These assignments frequently require a retrospective appraisal in which the appraiser analyzes market conditions that existed as of a prior date.

Divorce, Property Buyouts & Other Legal Matters

When real property is involved in a divorce, separation, property buyout, partition, or other legal matter, an independent appraisal can provide an objective opinion of value. The appraisal can assist the parties and their legal professionals in making informed decisions.

Pre-Listing & Private Sale Decisions

An appraisal can also be useful when a property owner wants an independent opinion of market value before listing a property for sale or completing a private transaction.

Unlike a Comparative Market Analysis (CMA) or Broker Price Opinion (BPO), a state-certified real estate appraiser develops an appraisal and communicates the opinion of value in a signed appraisal report containing the appraiser’s certification..

Tax & Specialized Valuation Needs

Residential appraisals may also be needed for property tax assessment matters, charitable contributions, private lending, immigration asset documentation, relocation, insurance-related valuation, and other specialized circumstances.

The appropriate type of appraisal depends upon the property, intended use, effective date, and applicable requirements of the assignment.

Serving Western New York

Donald J. Erbes is a New York State Certified Residential Real Estate Appraiser with more than 25 years of residential valuation experience. Erbes Appraisals, Inc. provides independent residential appraisal services throughout Erie, Niagara, and Orleans Counties.

Need an appraisal or aren’t sure what type of appraisal you need? Contact Erbes Appraisals, Inc. to discuss the property, intended use, and appraisal requirements and request a fee quote. Call (716) 984-1631 or use our Contact Us page.