Practical guidance for appraisal decisions.

What the appraiser observes

During a residential appraisal inspection, the appraiser documents the property's physical characteristics — square footage, room count, lot size, condition, quality of construction, and any features that contribute to or detract from value. This includes the interior, exterior, garage, and any outbuildings or site improvements.

How to prepare

• Provide full access — all rooms, the garage, attic access points, and outbuildings should be accessible
• List recent improvements — a written list of upgrades (roof, HVAC, kitchen, bathrooms) with approximate dates and costs helps the appraiser document condition accurately
• Note known issues — disclosing deferred maintenance or functional problems upfront helps the report address them transparently
• Do not stage or over-clean — the appraiser is evaluating the structure and market position, not the decor. A reasonably tidy home is sufficient

What does not affect value

Personal property (furniture, appliances not permanently installed), landscaping preferences, and cosmetic staging have little to no impact on an appraised value. The appraiser is focused on permanent improvements, location, condition, and comparable market data.

Why the effective date matters

A date-of-death appraisal estimates the market value of a property as of a specific past date — the day the owner passed away. Unlike a current market value appraisal, the comparable sales, market conditions, and property condition are all analyzed as of that retrospective date.

Common uses

• IRS estate tax filings — Form 706 often requires a date-of-death value for real property held by the decedent
• Stepped-up cost basis — heirs who inherit property use the date-of-death value as their new tax basis, which can significantly reduce capital gains tax when the property is later sold
• Probate administration — courts and beneficiaries may require an independent value opinion for distribution purposes

What to have ready

The property address, the date of death, the name and contact information of the executor or attorney managing the estate, and any relevant legal documents or filing deadlines. If the property has been altered since the date of death, let the appraiser know so condition adjustments can be addressed.

When a CMA may not be enough

A CMA is prepared by a real estate agent and provides a market-based price range using recent sales data. For standard homes in active markets with strong comparable sales, a CMA is often sufficient. But there are situations where a professional appraisal adds significant value:

• Unique or custom properties — homes with unusual features, floor plans, or construction that do not match typical comparable sales
• Significant improvements — major renovations where the owner wants to understand how upgrades affect market value
• FSBO transactions — sellers managing their own sale benefit from a defensible value opinion to anchor negotiations
• High-value properties — when the financial stakes are high, an independent appraisal reduces pricing risk
• Contentious negotiations — a third-party appraisal can help resolve disagreements between buyers and sellers on price

What a pre-listing appraisal provides

An independent, defensible opinion of value from a licensed appraiser, supported by comparable sales analysis, property-specific adjustments, and market commentary. Unlike a CMA, an appraisal is a regulated professional document that carries weight in negotiations, legal matters, and financial decisions.

Understanding assessed value

In Nevada, the county assessor determines the taxable value of your property based on land value plus the replacement cost of improvements, minus depreciation. This methodology can sometimes produce assessed values that diverge from actual market conditions, especially in fluctuating markets or for properties with unique characteristics.

When to consider an appeal

• The assessed value appears significantly higher than what the property would sell for on the open market
• Comparable properties in the same neighborhood are assessed substantially lower
• The assessment does not accurately reflect the property's condition or functional issues
• Recent sales data suggests the market has shifted since the last assessment

How an appraisal supports your case

An independent appraisal provides objective, market-based evidence of value that you can present to the county assessor or the State Board of Equalization. The report documents comparable sales, property condition, and market analysis — giving the appeals board a credible basis for reconsidering the assessed value.