Defining terms in an argument, conversation, or document is essential. As is defining industry and appraisal terms! Today let’s take a look at two appraisal terms that sound similar, but, are not directly related.

Estate or Date of Death Appraisal

A trying task often necessary in responding to the life changing effects of the loss of a loved one, is analyzing and categorizing the individual’s assets. Part of the process, sometimes a necessary part, is calling for an estate appraisal. The word estate often brings to mind images of large homes, roman pillars and historic mansions. While you certainly don’t need to own a mansion to have reason for an estate appraisal, these images do reference what an estate appraising tries to identify.  In many 17th century period novels and films, you’ll hear the phrase “how much is he/she worth?” This is a question estate (often referenced as date of death) appraisal approximately seeks to answer. Every estate situation is unique. The type of appraised value required does change depend on the unique needs of the individual and estate. While a date of death appraisal might be called for, it is often the case that a current value appraisal is requested. The current value appraisal is used to determine current market value for purposes of sale or settlement between heirs.

Regardless of your needs or the elapsed time, our team of certified appraisers at Arizona Appraisal Advisors understand the complexities involved in assessing the value of a property under these difficult circumstances and we’ll provide you with the best possible experience.

Home Appraisal

A home appraisal is entirely different from an estate or date of death appraisal. A home appraisal is necessary for assessing the current market value of your home. If you’re looking to sell your home, you’ll need to schedule a home appraisal. While online appraisals are on the rise as a trend, there’s no way to get an accurate home appraisal other than via an appraiser. This process is different by state, and is best left to the professionals to analyze.

Now that these two terms have been fully defined, it might be a good time to ask yourself if you’re ready for either types of appraising services.
To find out what services we at Arizona Appraisers offer, head over to our home or services pages.
We’re happy to answer questions or talk you through the appraisal process.