Date-of-Death Appraisals in Texas: Why Your CPA May Ask for a Retrospective Home Value
Date-of-Death Appraisals in Texas: Why Your CPA May Ask for a Retrospective Home Value You’re sitting down with a CPA after the death of a parent or family member, working your way through a mountain of paperwork, when they ask: “Do you have an appraisal showing what the house was worth on the date of death?” That question catches a lot of people off guard. The house may not be for sale. Nobody is applying for a mortgage. And the date your CPA is asking about may have been six months, a year, or even several years ago. So why do they need an appraisal now? Welcome to the world of the date-of-death appraisal , also commonly called a retrospective appraisal . As a state-certified residential real estate appraiser serving Conroe, Montgomery, The Woodlands, Willis, Magnolia, Spring, and surrounding areas, I complete these assignments for families, executors, attorneys, and tax professionals throughout Montgomery County and the Lake Conroe area. And despite the intimidating tax termin...