We recently talked about Date of Death appraisals, but another type of probate-related appraisal exists too. Plus, this one can help you out. So, if the market has actually declined in value six months after your loved one has passed away, you can also use an Alternative Valuation Date (AVD). This type of appraisal is allowed by the IRS if you need to show that the estate has decreases in value. The decrease can be due to circumstances about the property, the neighborhood or the market.
You’d need both the Date of Death appraisal and the Alternative Valuation Date though. If there is a major decrease in value on the home, this could save you a bundle in taxes. You would have to pay for two separate appraisals though, but that may be worth it. Your accountant or legal counsel can advise you one how you should proceed. Prudent legal counsel is an imperative part of the probate process. We can help you find the perfect person to represent you in probate court, so you can worry less about these details.
Do You Need A California Realtor Specializing In Probate?
We are experts in the probate sale under the probate code and trust law. We know the California Probate Code. We won’t let you get lost in it. If you need a realtor in California specializing in probate, please contact us today! We are upfront and honest about the costs of probate. Everyone wants to know about probate fees, but no one wants to talk about them. We will though. Sentinel Realty Partners wants our clients to be fully prepared and fully informed about buying or selling California probate real estate.
We have a list of the absolute best probate lawyers in California available for our customers. Plus, we also have relationships with the most vetted contractors, plumbers and electricians in California. See? We will guide you through every step of the process of selling (or even purchasing) a home involved in probate.
If you are buying a home in California, please have a look at our probate property search. If you need a Los Angeles, Orange County, Riverside, or San Bernardino professional to help you through the probate real estate maze, call us! These waters a murky, and you’ll want a knowledgeable, dependable, responsive team behind you. Check out Sentinel Realty Partners’ client reviews.