[WSBAPT] BPO vs Appraisal for property valuation to obtain step up in basis for estate beneficiaries

[msafren at jennylinglaw.com]

Hello Fellow Listservs,

 

I wanted to ask your collective opinions and experiences on whether a Broker
Price Opinion (BPO) was sufficient support to document the value of real
estate (as of  the date of decedent's death) for the step up in basis for
estate beneficiaries or if you think that a full on appraisal by a licensed
appraiser was needed instead of the BPO.

 

The PR is selling real estate owned by the estate, but did not want to bear
the expense and delay of the appraisal if it could be avoided and a BPO
substituted to establish the value of real estate for purposes of obtaining
the step up in basis valuation for the property for tax purposes. 

 

Thank you all in advance!! 

 

Warmest regards,

Michael S. Safren, Esq. 
Attorney at Law 

14900 Interurban Ave. S., Ste. 280 | Seattle, WA 98168 
11900 NE 1st St., Bldg. G - Ste. 300 |  Bellevue, WA 98005 
P: (206) 859-5098 | E:  <mailto:msafren at jennylinglaw.com>
msafren at jennylinglaw.com 
 <http://www.jennylinglaw.com/> www.jennylinglaw.com |
<http://www.facebook.com/jennylinglaw/> facebook.com/jennylinglaw/ 

 


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