Date of Death Appraisal: How to Price an Inherited Home in Port St. Lucie
When a parent’s house in Port St. Lucie passes to the family, two numbers matter. The date of death appraisal looks back to the day of the loss. The listing price looks forward to today’s buyers. This guide explains who sets each one and in what order.
This guide explains how the real estate side of probate usually works in Florida. It is not legal or tax advice. Every estate is different, so confirm your next step with a Florida probate attorney and, for taxes, a CPA.
The Short Answer
A date of death appraisal sets the home’s fair market value on the day the owner died. That value goes on the probate inventory and usually becomes the heirs’ tax basis. The listing price is a separate number, set later from current Port St. Lucie sales, the home’s condition and the buyers active when it is listed.
- Inherited property generally takes as its basis the fair market value at the date of death (IRS Publication 551).
- A Florida probate inventory lists each item at its estimated fair market value at the date of death (Florida Statutes, section 733.604).
- Only a certified or licensed appraiser may issue an appraisal report in Florida (Florida Statutes, section 475.612).
- Florida real property is assessed for property tax as of January 1 (Florida Statutes, section 192.042).
- Inherited property counts as held for more than 1 year (IRS Publication 544).
- The alternate valuation date is 6 months after death (26 U.S.C. section 2032).
In this guide
- What is a date of death appraisal?
- Which value matters?
- Taxes when heirs sell
- Valuing the house months later
- Who orders it and what it costs
- The alternate valuation date
- The property appraiser’s value
- Setting the listing price
- When the sale price differs
- The order of the steps
- Frequently asked questions
What is a date of death appraisal, and why does Florida probate need one?
Someone you love has died, and their house is now on your list. I am sorry for your loss. The rest of this guide is practical, so you can take it one step at a time.
A date of death appraisal is a written opinion of the home’s market value on the exact day the owner died, prepared by a state-certified or licensed appraiser. The appraiser studies sales from around that date, not from the week the report is written.
The standard is fair market value: the price at which property would change hands between a willing buyer and a willing seller, neither under any compulsion and both with reasonable knowledge of the relevant facts (26 CFR 20.2031‑1(b)).
Where the value shows up in a Florida probate case
The personal representative is the person the court appoints to manage the estate. Families often say “the executor.” After the court issues Letters of Administration, the personal representative prepares an inventory.
The probate inventory is a sworn list of what the person owned. Florida law requires each item to show its estimated fair market value at the date of death (Florida Statutes, section 733.604). The Florida Probate Rules set the deadline for filing it, so ask the probate attorney for the date in your case and give any appraiser enough lead time.
The inventory is confidential. The personal representative, the attorney and interested persons may see it; anyone else needs a court order (section 733.604). In St. Lucie County, the file sits with the Clerk of the Circuit Court in the 19th Judicial Circuit.
Why an estimate is not always enough
The statute says “estimated.” Some estates list a figure from a market analysis. Others hire a certified appraiser, because the value will later support the heirs’ tax basis or a sibling buyout.
On written request, a residuary beneficiary or an heir of an intestate estate can get an explanation of how each inventory value was set, or a copy of any appraisal (section 733.604(3)). If a brother or sister may question the value of Mom’s house, a signed appraisal is easier to explain than a guess. Which approach fits your estate is a question for the probate attorney.
Which value matters: the estate, the heirs or the buyer?
Families often hear four different numbers for the same house. Each one answers a different question, on a different date.
| Value | Date it looks at | Who uses it | Who usually sets it |
|---|---|---|---|
| Date of death value | The day the owner died | The probate inventory and the heirs’ tax basis | A certified or licensed appraiser, or an estimate chosen by the personal representative |
| Alternate valuation value | 6 months after death, or the sale date if sold sooner | Only an estate that files a federal estate tax return and qualifies | The appraiser, at the CPA’s request |
| Property appraiser’s just value | January 1 of the tax year | The property tax bill | The St. Lucie County Property Appraiser |
| Listing price | The week the home goes on the market | Buyers, their agents and their lenders | The personal representative or the heirs who hold title, with a written pricing analysis |
The estate’s number
The estate needs the date of death value for the inventory and, if one is filed, for a federal estate tax return. For 2026 deaths, the federal basic exclusion amount is $15,000,000 (IRS, What’s New, Estate and Gift Tax). Florida has no estate tax for people who died after December 31, 2004 (Florida Department of Revenue).
The heirs’ and the buyer’s numbers
The heirs care about the date of death value because it usually becomes their starting point for capital gains tax. A buyer does not care what the house was worth that day. A buyer compares it with this month’s listings, and a buyer’s lender orders its own appraisal with a current effective date.
How does the date of death value change the taxes when heirs sell?
Basis is the number subtracted from the sale price to measure a gain or a loss. For a house you buy, basis starts with what you paid. For a house you inherit, the rule is different.
Stepped up basis is the common name for that rule. The basis of inherited property is generally its fair market value at the date of death, or on the alternate valuation date if the personal representative elects it (IRS Publication 551, Inherited Property). The federal statute behind it is Internal Revenue Code section 1014.
An example with round numbers
Say Dad bought his Port St. Lucie house decades ago for a small fraction of today’s prices. A certified appraiser valued it at $380,000 on the day he died. Eight months later the estate sells it for $390,000, with $25,000 in selling costs.
The gain is not measured from Dad’s old purchase price. It is measured from the $380,000 value. In this example, the sale after costs lands below that basis. How the CPA reports that result is a tax question. The numbers are an illustration, not a prediction for your home.
Without a recorded date of death value, the heirs may struggle to show their basis years later. A low guess can make the taxable gain look larger than it is.
Holding period and consistent basis
If you inherit property, you are considered to have held it for more than 1 year, regardless of how long you actually held it (IRS Publication 544). So a gain on a quick estate sale is not short‑term.
When an estate must file Form 706, beneficiaries generally receive a Schedule A (Form 8971), and their basis must be consistent with the final estate tax value (IRS Publication 551). Whether a return is needed is a question for the CPA and the attorney. For the tax on the sale itself, see how capital gains tax works on a Florida home sale.
Can an appraiser value the house months after the death?
Yes. Many families only think about an appraisal when the attorney asks for the inventory or the CPA asks for the basis. By then, months may have passed.
A retrospective appraisal is an appraisal whose effective date is earlier than the date the report is written. For an estate, the effective date is the date of death. The appraiser studies sales from around that date and describes the home as it was then.
What the appraiser will ask the family for
The hardest part of a look-back appraisal is the condition of the house on that day. Before anyone cleans out, repairs or updates the home, gather:
- The exact date of death, as shown on the death certificate.
- Photos or video of every room, the roof, the pool area and the yard.
- A list of known problems: roof leaks, old plumbing, a failing air conditioner, open permits.
- Dates of past updates: roof, windows, shutters, kitchen.
Why changes after the death matter
Suppose the family replaces the roof three months after the death. The appraiser has to value the house without that roof, because it did not exist on the date of death. Without photos, the appraiser has less to go on.
This is one reason a listing agent in a probate sale usually photographs the house before any work starts. The same photos record the condition for the date of death appraisal and help plan repairs before listing.
Who orders the date of death appraisal, and what does it cost?
In a formal probate, the personal representative usually orders it. Florida law lets a personal representative employ attorneys, accountants, auditors and appraisers, and act on their recommendations (Florida Statutes, section 733.612(19)). Whether estate funds pay the fee is a question for the probate attorney.
Date of death appraisal cost
There is no state fee schedule. Each appraiser quotes the job. The price usually depends on the size and type of home, how hard it is to find sales from the right period, interior access, and whether the report must meet estate tax return standards.
Ask two certified residential appraisers for a written quote and a delivery date. Ask each one to confirm that the report will state the date of death as the effective date, and that it suits the probate inventory and the CPA.
Appraisal or market analysis?
Florida law draws this line. Only a certified or licensed appraiser may issue an appraisal report. A real estate broker or sales associate may give a comparative market analysis or price opinion, but that work may not be called an appraisal (Florida Statutes, section 475.612).
| Question | Certified appraisal | REALTOR® market analysis |
|---|---|---|
| Who prepares it | A Florida certified or licensed appraiser | A licensed sales associate or broker |
| Main use in an estate | Inventory value, tax basis, estate return, disputes | Listing strategy and a current price range |
| Date it looks at | The date of death, or another date the client sets | Today’s market, and it can include sales near the date of death |
| Cost to the family | A fee quoted by the appraiser | Often free from the listing agent |
Automated online estimates replace neither. See why online home value estimates miss in Port St. Lucie.
What is the alternate valuation date, and does it apply?
The alternate valuation date is a federal estate tax option that values the estate 6 months after death instead of on the date of death. Property sold within those 6 months is valued on the date of sale (26 U.S.C. section 2032(a)).
No election may be made unless it decreases both the gross estate and the estate tax due (26 U.S.C. section 2032(c)). In practice, it matters only for an estate that owes federal estate tax.
Why most Port St. Lucie families never use it
An estate below the $15,000,000 federal exclusion for 2026 deaths usually owes no federal estate tax, so the alternate date cannot lower a tax that does not exist. The heirs’ basis then rests on the date of death value.
For larger estates, a CPA may run the numbers both ways. Only the CPA and the attorney can say whether the election fits.
Questions to bring to the CPA
- Does this estate need to file Form 706, or should it file one anyway?
- Do we need a certified date of death appraisal, or will a market analysis do?
- If we sell within 6 months, how does the sale price relate to the reported value?
Why isn’t the property appraiser’s value the date of death value?
Many families look up the house on the St. Lucie County Property Appraiser’s website, see a “just value,” and assume the job is done. It is a fair guess. It is usually the wrong number for an estate.
Florida assesses real property as of January 1 of each year (Florida Statutes, section 192.042). If Mom died in August, the just value describes the house more than seven months earlier. It is a mass valuation for the tax roll, not a study of the sales around her date of death.
Assessed value is even further away
The assessed value of a homestead is often well below market, because the Save Our Homes cap limits yearly increases to the lower of 3% or the change in the consumer price index (Florida Statutes, section 193.155).
After a change of ownership, homestead property is reassessed at just value as of January 1 of the following year, with exceptions such as transfers to a surviving spouse (section 193.155(3)). Our guide on property taxes after the death of a parent explains what the heirs owe and when.
How is the listing price set for an inherited home in Port St. Lucie?
The listing price is a strategy, not a fact. It starts from current sales and active competition and reflects the house as it is today.
Walk the house with the family
Note the age of the roof, air conditioner and water heater. Buyers’ insurers often ask about the roof.
Pull matching closed and pending sales
Similar size, age and lot type nearby. Pending sales show where prices are heading.
Study the active competition
Count the homes a buyer would tour the same day, including updated homes and, in some areas, new construction.
Price it as is and after light preparation
Show both ranges with the cost of each. The personal representative or the title holders decide.
Put it in writing
A written pricing analysis gives the personal representative a record to share with the attorney and the heirs.
Port St. Lucie: many similar homes, many close comparisons
Much of Port St. Lucie was laid out as large residential subdivisions, with many single-story concrete block homes of similar size. That gives an appraiser close comparable sales. It also means small differences move the price: a newer roof, a pool, a canal lot, or city water and sewer versus a well and septic in some older sections.
Tradition: assessments and new construction
In Tradition, many homes carry Community Development District assessments on the tax bill, along with HOA dues. Buyers weigh the total monthly cost. Tradition resales also compete with new homes from nearby builders, who may offer incentives an estate cannot match. A pricing analysis there has to account for both.
Fort Pierce: wider range of ages and flood zones
Fort Pierce has a wider range of housing ages, from older homes near downtown to newer subdivisions to the west. Some areas near the Indian River Lagoon and on the barrier island sit in flood zones, so a buyer’s flood insurance quote can shape the offer. Fort Pierce is also the county seat, home of the St. Lucie County courthouse.
What happens if the sale price is higher or lower than the appraisal?
It is normal for the sale price to differ from the date of death appraisal. The two numbers measure different days and sometimes a different condition.
When the sale price is higher
If the house sells for more than the basis, the difference after selling costs may be a capital gain for the estate or the heirs. Because inherited property counts as held for more than 1 year, a gain is long-term (IRS Publication 544). The CPA decides who reports it and how.
When the sale price is lower
A lower price can follow a softer market or a house left unmaintained. Whether a loss can be deducted depends on facts such as whether an heir lived there. Ask the CPA.
When a court order sets the terms
If the will gives no power of sale, or there is no will, the personal representative may still sell, but no title passes until the court authorizes or confirms the sale (Florida Statutes, section 733.613(1)). The attorney may want the appraisal and the pricing analysis in the file to show the price is fair. Read more on when a personal representative needs court approval to sell.
What order do the valuation steps usually follow?
This is the order a listing agent in a probate sale usually follows. The court steps run alongside, and the attorney sets their timing.
Secure and photograph the house
Lock up, keep insurance in place and photograph every room before anything is moved or repaired.
Confirm who has authority
The attorney confirms who can act: a personal representative with letters, or heirs who hold title directly. That decides who orders the appraisal and who signs the listing.
Order the appraisal if the attorney or CPA wants one
Give the appraiser the date of death, the photos and the list of known problems.
Report the value on the inventory
The personal representative lists the estimated value on the inventory, filed with the clerk through the attorney.
Get a current pricing analysis and list
The listing agent prepares the as-is and prepared price ranges; the decision makers choose the price and any repairs.
Keep every value in one folder
Keep the appraisal, the pricing analysis, the closing statement and repair receipts together for the CPA.
A note on homestead
If the house was the owner’s protected homestead, title often passes to the heirs outside the assets the personal representative controls. Ask the probate attorney how a house that appears to be protected homestead should be shown on the inventory, and whether it needs a value there. The heirs may still want a date of death appraisal for their own basis. See how homestead works in probate and who can sell, or start at our page on probate real estate help in Port St. Lucie.
What Clients Say About Working With Jeannie Jacobson
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Frequently Asked Questions
Florida requires the probate inventory to show each item’s estimated fair market value at the date of death, under section 733.604. Because the statute says estimated, not every estate hires a certified appraiser. Whether yours should depends on taxes, beneficiaries and possible disputes, so ask the probate attorney and the CPA which kind of value they want.
There is no set state fee. Each certified appraiser quotes the job based on the home’s size and type, how far back the effective date is, interior access and the report standard needed. Ask two appraisers for written quotes and delivery dates, and confirm the report will state the date of death as its effective date.
No. Under Florida Statutes section 475.612, only a certified or licensed appraiser may issue an appraisal report. A REALTOR® can prepare a comparative market analysis or price opinion, including sales near the date of death, but it cannot be called an appraisal. Many estates use both, each for its own purpose.
Stepped up basis is the rule that inherited property generally takes as its basis the fair market value at the date of death, not what the owner originally paid, as IRS Publication 551 explains. When the heirs sell, gain or loss is usually measured from that value. Your CPA should confirm the basis and the treatment of selling costs.
Ask the probate attorney. The Florida Probate Rules treat a house that appears to be protected homestead differently on the inventory, and the attorney decides whether the home qualifies and what the inventory should show. The heirs may still want a date of death value, because it usually sets their own tax basis when they sell.
Not necessarily. The appraisal looks at the day of the death. The listing price has to work against the homes buyers can tour this week, and it reflects the house’s current condition. The appraisal is useful background, but the listing price comes from current sales, active competition and a written pricing analysis.
Start With the Numbers, One Step at a Time
You do not have to settle the value and the price in one day. A written pricing analysis of the estate home, with sales near the date of death and the market now, gives the personal representative, the attorney and the CPA one clear starting point. Jeannie works with families in English and Spanish.
Get a Free Estate Home Value Review
Jeannie Jacobson, REALTOR®, RE/MAX Gold, (772) 877-0268, English and Spanish
Sources
- Florida Statutes, section 733.604, Inventory, Florida Legislature, http://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0733/Sections/0733.604.html (accessed October 2026)
- Florida Statutes, section 733.612, Transactions authorized for the personal representative, Florida Legislature, http://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0733/Sections/0733.612.html (accessed October 2026)
- Florida Statutes, section 733.613, Personal representative’s right to sell real property, Florida Legislature, http://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0733/Sections/0733.613.html (accessed October 2026)
- Florida Statutes, section 475.612, Certification, licensure, or registration required, Florida Legislature, http://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0400-0499/0475/Sections/0475.612.html (accessed October 2026)
- Florida Statutes, section 192.042, Date of assessment, Florida Legislature, http://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0100-0199/0192/Sections/0192.042.html (accessed October 2026)
- Florida Statutes, section 193.155, Homestead assessments, Florida Legislature, http://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0100-0199/0193/Sections/0193.155.html (accessed October 2026)
- IRS Publication 551, Basis of Assets (Rev. December 2025), Inherited Property, Internal Revenue Service, https://www.irs.gov/publications/p551 (accessed October 2026)
- IRS Publication 544, Sales and Other Dispositions of Assets, Holding Period, Inherited property, Internal Revenue Service, https://www.irs.gov/publications/p544 (accessed October 2026)
- What’s New, Estate and Gift Tax, Internal Revenue Service, https://www.irs.gov/businesses/small-businesses-self-employed/whats-new-estate-and-gift-tax (accessed October 2026)
- 26 U.S.C. section 2032, Alternate valuation, Legal Information Institute, Cornell Law School, https://www.law.cornell.edu/uscode/text/26/2032 (accessed October 2026)
- 26 CFR 20.2031-1, Definition of gross estate; valuation of property, Legal Information Institute, Cornell Law School, https://www.law.cornell.edu/cfr/text/26/20.2031-1 (accessed October 2026)
- Estate Tax, Florida Department of Revenue, https://floridarevenue.com/taxes/taxesfees/Pages/estate_tax.aspx (accessed October 2026)