UPON PASSING: Only a Certified Appraisal Will Do.
When property owners pass away the IRS requires a Certified Appraisal to reset the cost basis and determine the value of the property at the time of the death. Getting an accurate appraisal quickly may save you a lot of money when the property is sold.
Who do you call? These are the names and numbers I recently gave for several Certified Appraisers working on the Kona side of the Big Island. There are other good appraisers. These are just a few who seem to work hard at giving an accurate value.
Carrie Broski 808-325-5034
Larry Peckham 808-326-1101
Peter Lassen 808-329-3752
What will it cost? For a typical single family home on a subdivision lot, currently you can expect to pay around $500 for the service, but only if the owner passed within the last several months. Wait until a year, two years or ten years after the death and you'll have to pay more because the appraiser will have to find historical data for the sales at the time of death. If the property is unique, over sized, is on acreage or in a remote area, expect to pay more for the appraisal.
What if I need an attorney? I just happen to know an estate expert. She as a knack for being respectful without being depressing.
What if we want to sell the property? When it is time to sell, I also happen to know some great real estate agents who can help you price your property and design a marketing plan that is right for you.
Charlie Parry, RB 808-938-1710
Lori Burris, RB 808-895-7267
Tim Gaughen RS 808-938-6945
Mahalo,
Joyce Murphy, RB 808-443-4302
Kona Homes Inc.
75-5801 Alii Dr. Suite AU1
Kailua-Kona, HI 96740