Well, it depends on what you are needing it for. Are there any disputes? Or are you just needing something to determine the home’s worth? If the executor is saying that you don’t need one then you don’t, unless you want to be sure.
You can get this information for free if you just look at the “comps” (comparables). All you do is ask a Realtor to provide you some information on the current listings and the information for some homes that have sold recently. Then you can look at those homes and get a real idea of what things are going for and determine the price per square foot, based on the market. Then if there is anyone that does not agree that this is a fair way to do it, then they can pay for an appraisal. But you should get a few and compare.
The other thing is that you do not know what the market is going to do. The home may be worth more in a year, or it could be less. So keep those factors in mind.
I can see both sides; if you are selling the house, determining the worth is important; and it might make a difference for taxes on the estate on a rare occasion; on the other hand, it, going for the most part to be a needless expense.
If there is a duspute over the amount he is saying it is worth vs. what your saying it’s worth, then I would definately get one.
Well, it depends on what you are needing it for. Are there any disputes? Or are you just needing something to determine the home’s worth? If the executor is saying that you don’t need one then you don’t, unless you want to be sure.
You can get this information for free if you just look at the “comps” (comparables). All you do is ask a Realtor to provide you some information on the current listings and the information for some homes that have sold recently. Then you can look at those homes and get a real idea of what things are going for and determine the price per square foot, based on the market. Then if there is anyone that does not agree that this is a fair way to do it, then they can pay for an appraisal. But you should get a few and compare.
The other thing is that you do not know what the market is going to do. The home may be worth more in a year, or it could be less. So keep those factors in mind.
I can see both sides; if you are selling the house, determining the worth is important; and it might make a difference for taxes on the estate on a rare occasion; on the other hand, it, going for the most part to be a needless expense.