Everything you need to understand which appraisal is right for your situation, what it costs, and how to order online.
Before ordering a paid appraisal, it can help to have a general sense of what the property may be worth. Russell can provide a free Automated Valuation Model (AVM) report based on available market data at no charge.
An AVM is a helpful starting point but is not a legal valuation. It cannot be used for probate court filings or IRS estate tax purposes. If those are your needs, a full appraisal is required. If you are unsure, contact Russell and he will help you choose the right option.
Provide the property address and Russell will send the report, usually within one business day.
If the heirs plan to sell the inherited property, the same appraisal that satisfies probate also establishes their stepped-up cost basis, the number that determines how much capital gains tax they will owe at sale. An accurate valuation on the right date can protect the heirs from a significant and avoidable tax liability. Many families do not discover this benefit until after the property has already sold.
Understand the stepped-up basis →Two appraisal options are available depending on access to the property, for estates located in Denver, Douglas County, Jefferson County, and throughout the Colorado metro area. Both are USPAP-compliant and accepted by Colorado probate courts and the IRS for estate tax purposes.
Russell inspects both the inside and outside of the property and prepares a written appraisal report that is accepted by Colorado probate courts, the IRS, and any other party with a legitimate need for a certified opinion of value. This is the right choice for most estate situations. If you are not sure which appraisal you need, start here.
Used when it is not possible to access the inside of the property, or when the scope of the assignment does not require an interior inspection. The report is still USPAP-compliant and accepted for most estate purposes. If you are unsure whether this option is right for your situation, contact Russell before ordering and he will advise you.
A detailed market analysis that includes a full interior and exterior inspection (approximately one hour, similar to a full appraisal), appropriate when a full USPAP appraisal is not required. If you are not sure whether a BPO or full appraisal is right for your situation, contact Russell before ordering. Note: a BPO cannot be used for probate court filings or IRS estate tax reporting.
Order Broker Price Opinion: $225 →Standard rates apply to most residential properties in the Denver metropolitan area. Use the checklist below to confirm before ordering. Properties outside these parameters are quoted individually.
Confirm your property qualifies before ordering at standard rates. Properties outside these parameters are quoted individually.
All five apply? Order online at standard rates. If any do not apply, request a quote and Russell will respond within one business day.
If you are unsure which appraisal to order, whether your property qualifies for standard rates, or have any other questions, call or email Russell before ordering.
(983) 333-7777 russell@GreatEstates.USOrdering takes about two minutes. After payment you will be redirected to schedule your inspection. Standard rates apply to qualifying properties in the five-county Denver metropolitan area.
Not sure which appraisal type to choose? The full interior/exterior appraisal is right for most estate situations. Call if you need guidance.