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- 40+ Years of Experience
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At The Silverman Group, we understand that settling the affairs of a deceased loved one is emotionally taxing. Our certified residential appraisers operate swiftly and with utmost sensitivity, providing clear guidance and answering every question with empathy.
Our estate reports adhere strictly to IRS guidelines, federal USPAP standards, and state probate statutes across Pennsylvania, New Jersey, and Florida. We deliver documents that accountants, attorneys, and tax officials accept without hesitation.
Pennsylvania imposes inheritance tax on real property transfers. New Jersey and federal thresholds also require certified date-of-death valuations to establish correct tax liabilities.
Establishing the exact value on the date of death resets the tax basis for the heirs, substantially minimizing or completely eliminating federal capital gains tax when the home is sold.
When multiple siblings or heirs inherit a home and one wishes to buy out the others, an unbiased certified appraisal eliminates family friction and guarantees fairness.
We review the date of passing, determine whether the inspection is retrospective or current, and gather property background from the executor or attorney.
We conduct an empathetic, comprehensive walkthrough of the home, noting architectural features, deferred maintenance, and updates.
We analyze comparable closed sales in the micro-neighborhood as of the exact effective date of death to determine accurate fair market value.
We issue a complete, certified USPAP report formatted directly for submission to probate court, estate attorneys, and tax accountants.
Even if the date of death occurred months or years in the past, The Silverman Group can produce a defensible retrospective appraisal using historical MLS archives and tax deed registries.
A date-of-death appraisal (also called a retrospective appraisal) establishes the fair market value of real property on the exact date the decedent passed away. This valuation is legally required by the IRS and state revenue departments to establish a new tax basis ("stepped-up basis") for the heirs and to calculate state inheritance taxes or federal estate taxes.
When an heir inherits property, the tax basis "steps up" from what the decedent originally paid to the fair market value on the date of death. If the estate or heirs subsequently sell the property, capital gains taxes are only owed on the difference between the sale price and this stepped-up appraisal value. An accurate appraisal can save heirs tens of thousands of dollars in capital gains tax.
Yes. The Silverman Group specializes in retrospective valuations. We access historical MLS records, deed registries, and municipal archives to accurately reconstruct the real estate market conditions as of the specific date of death, even if several years have elapsed.
Our appraisers document the physical state of the property as it existed on the date of death. We interview executors, review prior photographs, inspect repair receipts, and account for deferred maintenance or necessary renovations to ensure the valuation accurately reflects its true condition at that point in time.
