My New Blog

July 1st, 2022 7:45 AM
Retrospective appraisal refers to the appraisal performed sometime in the past date. For example, if there is an interest in finding what was the worth of a property 5 years ago at the date that a death occurred or a marriage was dissolved , the appraiser can provide the value of the property at that time in the past. 
The appraiser has to research the market activities of 5 years ago. Has to find comparable that could compete with the subject property and do his/her analysis and perform an opinion of value of the subject property in 5 years ago. 
In summary:
What does it mean when an appraiser seeks retrospective value?
Retrospective Value is generally defined as: “A value opinion effective as of a specified historical date. The term does not define a type of value. Instead, it identifies a value opinion as being effective at some specific prior date.
These appraisals frequently get prepared as part of an estate valuation, since property in an estate gets valued as of the date that the estate owner died. Most appraisers can produce a backdated appraisal for this or other reasons. 

Posted by Tony Kiani on July 1st, 2022 7:45 AMLeave a Comment

Subscribe to this blog