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

[sdonahue at sdonahuelaw.com]

I've used a BPO on a couple of occasions with no blowback.  If there is some
objection, you can always do the full appraisal after that.

 

Good luck,

 

Susan

 

SUSAN DONAHUE

Law Office of Susan Donahue

125 West 2nd Avenue, Suite "B"

P.O. Box 81

Twisp, WA 98856

(509) 996-5944 (phone)

(509) 362-9692 (fax)

 <mailto:sdonahue at sdonahuelaw.com> sdonahue at sdonahuelaw.com

 

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com>
On Behalf Of Diane J. Kiepe
Sent: Thursday, September 15, 2022 8:09 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] BPO vs Appraisal for property valuation to obtain step
up in basis for estate beneficiaries

 

Michael,


I have used (and others in my firm) a BPO on more than one occasion.

 

Diane J. Kiepe

 

Diane J. Kiepe

Douglas Eden

717 W. Sprague Ave.

Suite 1500

Spokane, WA  99201

djkiepe at depdslaw.com <mailto:djkiepe at depdslaw.com> 

509-455-5300

 

From: wsbapt-bounces at lists.wsbarppt.com
<mailto:wsbapt-bounces at lists.wsbarppt.com>
<wsbapt-bounces at lists.wsbarppt.com
<mailto:wsbapt-bounces at lists.wsbarppt.com> > On Behalf Of
msafren at jennylinglaw.com <mailto:msafren at jennylinglaw.com> 
Sent: Wednesday, September 14, 2022 9:13 PM
To: 'WSBA Probate & Trust Listserv' <wsbapt at lists.wsbarppt.com
<mailto:wsbapt at lists.wsbarppt.com> >
Subject: [WSBAPT] BPO vs Appraisal for property valuation to obtain step up
in basis for estate beneficiaries

 

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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