Understanding the Importance of Date of Death Appraisals – Ojai
Settling an estate after the loss of a loved one is both an emotional and legal journey. One of the key steps in this process is obtaining a Date of Death (DOD) appraisal, which determines the market value of a property as of the date the decedent passed away. In a unique and desirable market like Ojai, known for its scenic beauty, artistic culture, and distinctive real estate, a certified and locally informed appraisal is essential for probate court filings, estate tax documentation, and fair asset distribution among heirs.
At Pacific Home Appraisers, we provide professional, USPAP-compliant Date of Death appraisals in Ojai, helping families, attorneys, trustees, and CPAs navigate the estate process with accuracy and peace of mind.
A Date of Death appraisal—also referred to as a retrospective appraisal—estimates a property's fair market value as of the date of a person’s passing. It is based on market conditions and comparable sales from that time, not from the current real estate market.
In Ojai, properties range from in-town cottages and custom hillside homes to sprawling ranch estates. An appraiser must understand the nuances of land use, views, zoning, and Ojai’s one-of-a-kind housing stock to produce a reliable valuation.
1. IRS and Estate Tax Compliance If an estate’s value exceeds federal exemption thresholds, the IRS requires a certified real estate appraisal to complete Form 706. A DOD appraisal provides the necessary documentation for accurate and defensible reporting.
2. Step-Up in Basis for Inherited Property A Date of Death appraisal documents the property's market value on the date of death, establishing the new tax basis for heirs. This can significantly reduce capital gains taxes when the property is eventually sold.
3. Equitable Division Among Heirs When multiple beneficiaries are involved, a neutral third-party valuation ensures a fair division of real estate assets, especially if one person retains the property and others are compensated.
4. Probate and Trust Filing Requirements Ventura County probate courts and estate attorneys require USPAP-compliant appraisals to document the value of real estate. A certified appraisal is legally necessary for probate filings and trust distributions.
A DOD appraisal is typically needed when:
You are the executor, trustee, or administrator of an estate with real property in Ojai
The estate must file IRS Form 706 for estate tax reporting
The property will be transferred, sold, retained, or divided among heirs
You are working with a CPA or estate attorney
You need to establish a stepped-up tax basis for capital gains purposes
Even if the property will not be sold, the appraisal offers vital financial and legal documentation.
1. Property Evaluation We review the property’s condition, size, location, views, lot characteristics, and any upgrades or improvements. For larger estates, agricultural uses, or ranch-style homes, we evaluate land productivity, zoning, and unique features.
2. Historical Market Research We identify comparable sales that occurred near the date of passing in Ojai and nearby areas such as Mira Monte, Meiners Oaks, and Upper Ojai. All sales are adjusted to reflect differences and market relevance.
3. Sales Comparison Approach Adjustments are made for square footage, location, design, and features to determine a credible estimate of value as of the date of death.
4. Certified USPAP-Compliant Report Your report will meet the standards of the Uniform Standards of Professional Appraisal Practice, making it acceptable to probate courts, the IRS, legal professionals, and financial institutions.
In addition to Date of Death appraisals, Pacific Home Appraisers also provides:
Divorce Appraisals – Unbiased valuations for equitable property division
Expert Witness Appraisals – Defensible reports and court testimony for disputes
Appraisals for Any Intended Use – Including estate planning, refinancing, pre-listing, gifting, and tax appeals
Each appraisal is tailored to the property’s characteristics and the client’s legal or financial needs.
Ojai’s real estate market is unlike any other, combining rural charm with luxury appeal. From artist studios and spa retreats to ranch homes and private compounds, every property presents unique valuation challenges.
With over 5,000 completed appraisal assignments, Pacific Home Appraisers offers:
Turnaround in five to seven business days
Rush service available within forty-eight hours of inspection
Reports accepted by probate courts, the IRS, attorneys, and CPAs
Clear communication and dependable service throughout the process
Can I order a Date of Death appraisal months or years after the date of passing Yes. Retrospective appraisals can be completed at any time using verified historical sales data from the appropriate date.
Do I need an appraisal even if the property will not be sold Yes. A certified DOD appraisal is necessary to establish a stepped-up basis and comply with IRS and court requirements.
Can I use the tax assessor’s value instead No. Assessor values are not based on market conditions and are not accepted by courts or the IRS. A certified appraisal is legally required.
If you are managing a probate, trust, or estate in Ojai, rely on Pacific Home Appraisers for certified, timely, and court-compliant valuation services.
Call 818-880-1466 Email kiani105@yahoo.com Visit www.pacifichomeappraisers.com