Estate & Probate Appraisals

Independent Real Estate Appraisers

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Providing Fast, Accurate & Affordable Real Estate Appraisal Services in Austin, TX Since 2005.

Austin Estate Settlement Appraisals

Settling an estate is an important and sometimes stressful job. As an executor you have been entrusted to carry out the wishes of the deceased as swiftly and exactly as possible. An Austin estate appraisal is required to establish Fair Market Value for the property involved. Often, the date of death differs from the date the appraisal is requested. We are familiar with the procedures and requirements necessary to perform a retrospective appraisal with an effective date and Fair Market Value estimate matching the date of death.

Home Appraisals for Probate Court

Using Current and Retrospective Market Value

Often times during a divorce, bankruptcy, estate or probate case the fair market value of a property needs to be determined to a previous date. These are known as “retrospective” appraisals and fairly common in legal appraisals. With a retrospective appraisal we simply analyze the market as it was at a specific time in the past with no regard for current or future knowledge of the market. For example, we may value a home at $500,000 and declare that the market values are increasing as of “X” date. The very next day a fire could burn down half the neighborhood and values could rapidly decline. A retrospective appraisal to “X” date would assume ignorance of the events that took place on the next day and the appraisal would still assume market values are increasing.

Fast & Accurate Real Estate Valuations

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512-900-7929

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CUSTOMER REVIEWS OF OUR

Austin Property Appraisal Company

We stand behind our work and our customers have nothing but great things to say. Here are a few examples:

Real Estate Appraisals Austin

4.8

Based on 45 reviews

Ed came out on short notice to measure a new home I was in the process of purchasing. He was professional and honest in his work. I found him online and it was not through my lender. I wanted an independent appraiser since the lender was connected to my builder. Definitely will use him again if I ever needed to. I was a first time home buyer and he was fair to me and helpful. Thank Ed!

Jennifer Nguyen

The realtor that came out was very professional and thorough. I would recommend this service.

Nancy Crow

This company is contracted to my mortgage company for market appraisals to remove PMI. They contacted me right away and had the whole thing turned around in less than a week. Appreciate the speed and the quality of the service and would definitely recommend.

Jeanna Kozak

I was able to schedule an appraisal just two days after contacting the company. Likely this was a fluke, but it worked well for me! Our appraiser was a bit late, but that was the fault of the previous appointment. Once he arrived, he listened to everything we pointed out. Our appraisal was fair for our neighborhood we thought and the report arrived about 8 days after the appointment. We are happy and will recommend Real Estate Appraisals Austin to any others we know.

Leah L

We used Real Estate Appraisals Austin and found them to be very professional, accommodating and efficient. Their work product was thorough and very well presented. We would definitely recommend them and would use them again.

Calvin Porter

I recently had a rental appraisal of my property. The appraiser showed up on time and did a thorough analysis. The report took a week, but it was very thorough. I am very happy with the appraiser and the report.

Karthik Manamcheri

We recently used Real Estate Appraisals Austin to appraise a property we have owned over 15 years and have had multiple offers to sell. Michelle was very helpful and professional in coordinating with our property manager. She responds very quickly to calls or emails. Edward did a thorough appraisal and took the time to call and discuss details. I definitely would recommend this company to anyone considering an appraisal in Austin. The price was very reasonable, I felt, for the value we received.

Lorrie Coles

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FAQ About Our Austin Real Estate Appraisal Services

How are home prices influenced by floodplains?

This differs depending on the zone designation and what percentage of the property is located in the floodplain. You may be in a situation as such just a portion of your land is in the floodplain but it doesn’t impose a risk to any structures or your access. On the other hand, if the house or structures like garages and means of access are at risk of being damaged by water then it will have an affect on the house’s value . Typically the appraiser will use a sample of comparable houses that share the same flood area issues to justify their adjustments.

Is an appraisal comparable to a comparative market analysis (CMA)?

The two services are substantially different in breadth and level of reporting. CMAs typically contain a few recently sold and active comparable homes, and depend greatly on those prices. When it comes to residential property a home appraiser will likely rely heavily on comparable properties, but the level of analysis and adjustments to each sale are more in depth. Acreage and building prices are as well key within an appraisal. For determining a logical range or ballpark estimate, CMA are ok. But if you want a more exact and likely reasonable value, then you will need an appraisal. Perhaps the most notable element to pay attention to is the party generating the report. Any real estate agent can create a comparative market analysis without having expertise within the market or property valuation in general. Appraisers are required to posses competency appraising properties within the market area. Similarly, the real estate agent has a stake in the selling of the property whereas the appraiser is mandated by a law of ethics to charge only a flat sum for assignments, despite their outcome.

What is the meaning of adjustments?

Because no two houses are without differences, home appraisers make adjustments to hone in on your property’s sales price estimate according to comparable homes in the market area. For instance, if a comparable home has a detached garage but the subject property doesn’t then there may be need for an unfavorable adjustment to lower the comparable home down to the home being appraised. The desired result is to homogenize all homes as compared to the subject property.

Is a house inspection part of the appraisal report?

Not at all. The function of and result of an appraisal is not the same as a house inspection. A house inspector’s job is to study the structural, electrical, mechanical & plumbing in a house and document any problems or safety issues. Although your home appraiser will complete a rudimentary inspection of the subject property, it will be not nearly as extensive as what a property inspector does. The majority of the appraiser’s efforts are dependent on market analysis to determine price based on “assumed” condition of the house.

Austin Neighborhoods We Appraise

We provide real estate appraisals and related services to the following cities, towns and communities across the Austin metro area. We cover a large portion of Central Texas - if you don't see your area below, please call to confirm with one of our friendly staff.

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