What is a probate and estate settlement appraisal?

A probate and estate settlement appraisal is an important part of the legal process to properly assess the value of real property held by a deceased individual. This type of appraisal helps ensure assets are distributed in accordance with the law and that all estate debts and taxes are adequately paid off. In Issaquah, WA, licensed appraisers use accepted industry procedures and standards to complete the appraisal which involves analyzing the local real estate market, making inspection visits to the property, comparing sales of like properties, and summarizing findings in a professionally written report. Having an accurate appraisal is essential for resolving any estate disputes so it's essential that experienced professionals conduct this work.

How long does the appraisal process take from start to finish?

The real estate appraisal process can vary depending on the market conditions and complexity of the property. In Issaquah WA, it usually takes 1-2 weeks from start to finish. This time frame allows your appraiser time to review comparable properties, take accurate measurements of the property, and create an analysis report with recommendations. Clients will also have opportunities to review their appraisal report and ask questions if they deem it necessary. Having a full understanding of the timeline is important in the timely settlement of probate or estate transactions.

Who orders the appraisal - the executor or administrator of the estate, the court, or the attorney handling probate matters?

The individual who orders the appraisal for a probate and estate settlement depends upon the specifics of each unique situation. The executor or administrator of the estate is typically responsible for ordering an appraisal; however, in some cases the court may have this responsibility. Attorneys handling probate matters may also be tasked with ordering appraisals if they are specifically authorized to do so by the court or other designated representative. To ensure that your probate and estate settlement proceedings go smoothly, it's important to understand who must issue the appraisal order and discuss this with any applicable parties at the outset of your work together.

A probate and estate settlement appraisal is an important tool in the final stages of administering an estate. It helps to determine the value of property for inheritance tax purposes, as well as to distribute assets among heirs. The process can take up to six weeks, depending on the complexity of the estate and the availability of information. Probate appraisals are typically ordered by executors or administrators of estates, but may also be ordered by courts or attorneys handling probate matters. Contact us for a free quote today.