The excerpt below was cut verbatim from the IRS site.  The whole source is available on Publication 561.   Qualified appraiser. A qualified appraiser is an individual with verifiable education and experience in valuing the type of property for which the appraisal is performed. 1. The individual: a. Has earned an appraisal designation from a…

When people inherit real property, it is important for them to determine not only what it is worth today, but what it was worth at the time of its owner’s passing. Knowing the market value as of the date of death will reduce their tax obligations when they later sell it or pass it on…

People order appraisals for all kinds of reasons including buying or selling a house, refinancing a loan, getting a divorce, or receiving an inheritance. Oftentimes clients have preconceived expectations about the value, either because their Realtors sent them postcards showing neighborhood sales or because they looked at sites like Zillow, Redfin, or Realtor.Com. Therefore, they…

I am often asked by my clients, “Who do you share this report with?” In general, the answer to this question is “only the client.” When I get a call from someone who is not the client, I tell them that it doesn’t matter who they are – a real estate agent, attorney, accountant, parent,…