Inheriting a home can be emotional, confusing, and overwhelming. Most people are grieving, trying to locate documents, talking with family members, and suddenly being asked questions they have never had to answer before. One of the most important questions is: “What was the home worth when the owner passed away?” That value may matter for tax purposes, estate settlement, family decision-making, probate, and the future sale of the property. This is where an IRS step-up basis a

Everyone wants to know:“How did you come up with that value?” It all comes down to comparable sales—but not in the way most people think. Let’s simplify this. First—We’re Not Chasing a Price This is the biggest misunderstanding. Appraisers are not trying to “hit” a number. We’re not starting with a price and then finding sales to justify it. We’re valuing the property itself, not the contract, not the list price, and not what someone hopes it’s worth. If you start with a pric

When inheriting property, one of the most important financial considerations you'll face is understanding the "step-up basis" and why...

As a real estate agent, you are often at the intersection of buyers, sellers, and the appraisal process. Sometimes, the appraised value...