Understanding the Importance of Date of Death Appraisals – Simi Valley
Settling an estate in Simi Valley after the passing of a loved one requires careful attention to legal and financial details. One of the most critical steps is obtaining a Date of Death (DOD) appraisal—a certified valuation that reflects the fair market value of real estate as of the decedent’s passing. This appraisal is often required for IRS estate tax filings, probate court documentation, and equitable distribution among heirs.
Whether the property is located in Wood Ranch, Texas Tract, or the Bridle Path equestrian community, Pacific Home Appraisers provides accurate, professional, and timely Date of Death appraisals trusted by attorneys, CPAs, and estate executors throughout Simi Valley.
A Date of Death appraisal, also referred to as a retrospective appraisal, determines the market value of a property as of the exact date a person passed away. It uses historical real estate data from that period—not current market conditions—to provide a reliable value that can be used in estate planning, tax reporting, and probate proceedings.
In Simi Valley’s varied real estate landscape, where homes range from suburban single-family residences to custom estates and horse properties, accurate valuation requires local market expertise.
If an estate exceeds the federal exemption threshold, a certified DOD appraisal is required for estate tax reporting. This formal valuation ensures your filings are accurate, defendable, and compliant with IRS regulations.
A Date of Death appraisal establishes a new tax basis for the inherited property. This “step-up in basis” allows heirs to minimize capital gains taxes when selling the property by basing gains on the value at the time of inheritance rather than the original purchase price.
When there are multiple heirs or beneficiaries, a certified appraisal provides a neutral, third-party valuation that helps ensure fair distribution of assets. This is especially important when one heir wants to keep the home and others are to be financially compensated.
Ventura County courts often require a USPAP-compliant appraisal as part of the probate process. A DOD appraisal is a key component in properly documenting estate assets and obtaining court approval for the final distribution.
You’ll need a DOD appraisal if:
You’re the executor, trustee, or administrator of an estate
Real estate is part of a probate or living trust
The property is being sold, refinanced, or distributed to heirs
Your CPA or estate attorney needs a retrospective valuation
You’re establishing a stepped-up tax basis
The estate is being contested or divided among multiple beneficiaries
Even if there are no immediate plans to sell, having a formal valuation on file ensures clarity and future tax benefits.
The appraiser collects detailed information about the home, including square footage, lot size, upgrades, amenities, and condition. If access isn’t available, prior listings, MLS data, and public records may be used.
The appraiser researches comparable property sales that occurred near the date of death to determine what the home would have been worth at that time. In Simi Valley, this may include homes in areas like Indian Hills, Mountain Meadows, or Sinaloa Highlands.
This method compares recent sales of similar homes to estimate value, adjusting for differences in features, location, size, and condition.
The final appraisal is prepared in accordance with the Uniform Standards of Professional Appraisal Practice (USPAP) and is suitable for use by the IRS, probate courts, CPAs, and legal professionals.
In addition to Date of Death appraisals, Pacific Home Appraisers offers a range of real estate valuation services, including:
Divorce Appraisals – Impartial and accurate valuations for fair marital property division
Expert Witness Services – Certified reports and in-court testimony for disputed real estate values
Appraisals for Any Intended Use – Including refinancing, pre-listing, estate planning, gifting, tax appeals, or investment analysis
Every report is tailored to your intended purpose and delivered with professionalism and detail.
Simi Valley’s real estate market is nuanced. Property values vary by neighborhood, school zone, lot size, and view orientation. At Pacific Home Appraisers, we have completed over 5,000 appraisals across Ventura and Los Angeles Counties, including many in Simi Valley.
Our in-depth market knowledge and attention to compliance ensure that your appraisal is accurate, court-ready, and defensible.
Yes. Date of Death appraisals are retrospective by design. We use sales data and market conditions from the relevant time to determine value—regardless of how much time has passed.
Yes. Even if the home is being retained, a DOD appraisal is necessary to establish a new tax basis and meet legal requirements.
No. Assessed values are used for property taxes and do not reflect actual market value. A certified appraisal is required by the IRS and probate courts.
Whether you're settling an estate, managing a trust, or dividing property among heirs, Pacific Home Appraisers delivers accurate, timely, and legally compliant appraisals throughout Simi Valley.
?? Call: 818-880-1466 ?? Email: kiani105@yahoo.com ?? Visit: www.pacifichomeappraisers.com
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