We get asked to do appraisals for probate here at Pacific West Appraisal.  It is usually a single family residence that the deceased lived in and has been left as part of the estate.

We do these appraisals often.  They are usually prepared and presented on the standard banking appraisal form, known as the FNNA 1004 form.

These appraisal reports are acceptable by the court system, the state governments and the IRS.

Probably your primary risk in getting an appraisal for probate is finding an appraiser that is not qualified, or well enough trained to do the work properly.  Neither the state, the courts nor IRS smile upon fraudulent work.

The highest credentials you can find for doing probate appraisals are the SRA (Senior Residential Appraiser, awarded by the Appraisal Institute) and the IFA (Independent Fee Appraiser, awarded by the National Association of Independent Fee Appraisers).  Those two “Designations” as they are called, are awarded to appraisers who have completed an advanced degree in residential real estate economics.  They are the equivalent of a Masters Degree in the discipline.

Ralph K. Olsen, MAI, SRA, IFA

Pacific West Appraisal Services, Inc.

pwas.net