Date of Death Appraisals Aurora

A Date of Death Appraisal establishes the fair market value of a residential property as of the date of the property owner's death. This specialized appraisal is essential for probate proceedings, estate tax calculations, and ensuring equitable distribution of assets among heirs.

We provide professional property valuation services throughout all of Aurora's neighborhoods, from Southlands to Tallyn's Reach, Aurora Highlands to Saddle Rock, with a deep understanding of the unique characteristics of the local real estate market.

Key Benefits of Professional Date of Death Appraisals

• Estate Settlement Support: Our appraisals provide the documentation needed for probate proceedings, helping executors and administrators fulfill their fiduciary duties when handling local properties.
• Neighborhood-Specific Valuation: We account for local factors that affect property values, from proximity to the Anschutz Medical Campus to recent developments along the E-470 corridor. This local expertise ensures accurate retrospective real estate appraisals for probate.
• Historical Market Analysis: We analyze historical market trends to accurately determine the property's value at the date of death, regardless of current market conditions.
• Step-Up Basis Determination: Our appraisals establish the stepped-up tax basis for inherited properties, potentially saving heirs significant capital gains taxes when they eventually sell – particularly important in appreciating neighborhoods throughout the city.
• Comprehensive Documentation: We provide detailed appraisal reports that include local comparable sales analysis, neighborhood data, and property condition assessments – documentation that stands up to scrutiny from tax authorities and probate courts.
• Estate Tax Calculation: For larger estates that may be subject to estate taxes, our accurate property valuations help ensure proper tax calculations, potentially saving thousands in unnecessary tax payments.
• Compliance with Colorado Regulations: Our appraisals adhere to all state and local regulations, including specific requirements for properties in Arapahoe County, Adams County, and Douglas County probate proceedings.

The Date of Death Appraisal Process in Aurora

When you request a Date of Death Appraisal, our certified residential real estate appraiser will:

1. Consultation: Discuss your specific needs and gather essential information about the property and the date of death.
2. Research: Analyze historical market data specific to the neighborhood where the property is located.
3. Property Inspection: Conduct a thorough on-site inspection of the property, documenting its condition as of the date of death.
4. Comparable Analysis: Identify and analyze sales of similar properties that occurred around the date of death within the same community.
5. Report Preparation: Prepare a comprehensive appraisal report that meets all requirements for estate settlement, probate courts, and tax authorities.

Property Values and Step-Up Basis Benefits in Aurora

The step-up in basis tax benefit is particularly valuable for properties in this region, many of which have seen significant appreciation over the past decades. This provision allows the cost basis of an inherited property to be "stepped up" from the original purchase price to the fair market value at the date of death.

Consider this example: If a parent purchased a home near Cherry Creek State Park for $180,000 in the early 2000s, and the property was worth $550,000 at their passing in 2024, a proper Date of Death Appraisal establishes the new stepped-up basis of $550,000. Without this appraisal, heirs who later sell the property might face capital gains tax on $370,000 of appreciation. This step-up basis appraisal after death provides valuable tax savings while ensuring compliance with IRS requirements.

For more information about this important tax benefit for inherited properties, please visit our page on Step-Up Basis Appraisals.

Aurora Neighborhoods We Serve

Our Date of Death Appraisal services cover all Aurora neighborhoods, including but not limited to:

Please be sure to also read about our Estate Appraisals, as both a Date of Death Appraisal and an Estate Appraisal may be necessary in some situations.

In summary, a Date of Death Appraisal for an Aurora residential property determines the fair market value at the time of the property owner's death. With our deep knowledge of the diverse local housing market and estate valuation requirements, we provide accurate, defensible appraisals that fulfill all legal and financial requirements associated with the deceased's real estate assets.