Estate Appraisals

 

Your most important work is always ahead of you, never behind you. Stephen Covey

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Settling an estate is a stressful yet essential task. Your objective is to carry out the wishes of the deceased, and we are sensitive to your needs and the needs of all parties involved. Most of the time, you settle estate issues for the deceased siblings.  This situation can make it more challenging, and we know how sensitive it can be for all parties. In addition, the valuation most likely will be used in reporting for tax purposes. Again, this is a crucial document in settling the estate. You need a person who is sensitive during this trying time. I have personally dealt with my estate matters and helped others deal with theirs. 

Sometimes, when settling an estate, time is required before a family is ready to move on. During this period, this may include selling the property, and the appraisal is the most reliable piece of information and carries more weight than a Brokers Analysis.  Brokers Analysis may not hold up to the legal challenge that an appraisal will. Remember, most brokers and salespeople do it as a free service, hoping to obtain a listing. However, they have a specific purpose in the real estate business.  The date of death comes into play when ordering an appraisal.  When involving an estate, this is an essential piece of information the appraiser needs to know. It could be a month ago, or two years ago, or even longer.

 In the end, you can rest assured that an appraisal done by a licensed Certified General Appraiser will carry more weight with any legal authority.

Sometimes, under these circumstances, a retroactive appraisal is required. An appraisal of this type evaluates the estate based on the value at a specified date. Sometimes, sales are challenging to locate. They can require knowing where to go for the data and not just the MLS. Most appraisers rely on the MLS for their sales data and do not look any further. They may miss those critical sales that could make the difference.  At least those sales are more data that can help back the final fair market number. The importance of an appraisal is the level of research and analysis done to arrive at a fair market value. Some appraisers rush through the research and analysis, creating a flawed report. As the report user, you do not want to repeat the process after the fact. This is where experience and knowledge come in doing an appraisal.

RU Appraisals, LLC is experienced with the procedures and requirements necessary to perform appraisals with special needs. This could result from a personal decision or court requirement; you can be assured the property will be represented accurately and ethically with the proper appraisal.

 
The fair market value must be fair to all parties and, when challenged, can stand up to the scrutiny of a court or any other legal authority.

 Ray has in-depth experience appraising land, which requires additional detailed research and analysis to determine value. He has you covered from the simple valuation problem to the more complex appraisal, beyond the typical problem encountered during the appraisal process.

We are governed by the Uniform Standards of Professional Appraisal Practice (USPAP), which binds us to confidentiality, ensuring the fullest discretion.

RU Appraisals, LLC's founder, Raymond Underhill, believes strongly in professionalism and trustworthiness. In today's world, these traits are paramount. Our commitment is to conclude the appraisal process efficiently and effectively so you can move forward with peace of mind. Ray is also a resident of Crestwood Village 5, a 55-plus community in Manchester Township, in Whiting, NJ, and understands the needs of older adults and their families.

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