Frequently Asked Questions

Estate appraisals determine property value for probate, estate taxes, or planning purposes, often using retrospective valuations at specific dates. Divorce appraisals focus on current market value with thorough legal documentation to ensure fair asset distribution between parties.

A pre-listing appraisal is ideal before putting your home on the market to establish accurate pricing. It helps avoid overpricing that delays sales or underpricing that costs you money, and strengthens your negotiating position with buyers.

A retrospective appraisal determines what your property was worth at a specific past date by analyzing historical market conditions and any renovations completed before that time. This is commonly needed for estate settlements, tax purposes, or legal matters.

Yes, strategic home improvements can significantly enhance property value. At Lyman Brothers Appraisal, we assess proposed renovations based on blueprints and planned changes to estimate their impact on market value before you invest.

Property type, size, complexity, and appraisal purpose all influence cost. Single-family homes typically differ from condos or multi-family properties in valuation scope. Specialized appraisals like retrospective or divorce valuations may require additional research and documentation.

Lenders require current market value to determine how much they can loan against your property. A refinancing appraisal ensures the loan amount aligns with your home's present worth, protecting both you and the lender from overvaluation risks.

Commercial appraisals evaluate income potential, zoning, tenant leases, and investment returns rather than just comparable sales. Office buildings, retail spaces, and investment properties require specialized analysis beyond residential valuation methods.

Many wait too long or use informal valuations instead of certified appraisals for probate. Accurate estate appraisals with proper retrospective dates prevent tax complications and ensure fair distribution among heirs, avoiding costly disputes later.

Yes, when conducted by certified appraisers with thorough documentation. At Lyman Brothers Appraisal, we provide detailed reports specifically formatted for legal proceedings to support fair asset division and withstand legal scrutiny.

Estate planning appraisals establish current property values for trust creation, gifting strategies, and tax planning. They help families make informed decisions about asset distribution and minimize potential estate tax burdens for beneficiaries.