Handling an estate sale, depending on the circumstances, can be (very) hard for Realtors.
That’s especially true if they are close to the family.
But, at least one part is easy: setting a price on the home’s value as of the date the former owner (“decedent”) passed away.
The heirs typically need that value for estate tax purposes, which in practice means that the family’s CPA or estate attorney asks the Realtor to provide it.
Rearview Mirror
After the fact, it’s quite easy to say what a particular home was worth — or, at least give a range.
That’s because you need only look up closed sales (“Comp’s”) nearest to the date you’re provided, and work through the adjustments.
What’s hard(er)?
Determining what the same home is worth today . . .
