Estate & Inheritance Appraisals in Miami & Broward: What Families Should Know

As an appraiser working throughout Miami-Dade and Broward County, one of the questions I get the most is about estate and inheritance valuations. When a family loses a loved one or begins planning ahead, real estate is usually the largest asset involved  and getting the value right matters. In South Florida, with our mix of waterfront homes, duplexes, condos, warehouses, and owner-operated commercial buildings, the need for accurate valuation is even more important.

Estate appraisals aren’t just a box to check. They protect families financially, prevent disputes, and give attorneys and accountants the documentation they need to move the process forward the right way.

Why Estate & Inheritance Appraisals Are So Important in South Florida

The Miami and Broward markets move fast, and values can swing quickly. A home in Kendall, a duplex in Wilton Manors, and a warehouse in Doral can all behave differently even at the same price point. That’s why relying on online estimates or assumptions usually leads to mistakes.

A professional estate or inheritance appraisal gives you:

1. A defensible number for probate, IRS, or legal requirements

Estate valuations often end up being reviewed by attorneys, accountants, or even the IRS. A certified appraisal provides a supported, well-documented value not a guess or a Zillow estimate.

2. A neutral basis for dividing assets among heirs

Emotions run high when families inherit property. A clear, independent valuation helps avoid arguments and keeps everything fair and objective.

3. Guidance when selling or transferring inherited real estate

Some inherited properties need repairs, may have deferred maintenance, or sit in areas shifting in value. An appraisal helps the family make smart decisions when pricing or determining whether to sell or retain the property.

4. Support for CPAs and attorneys working on the estate

Every probate attorney and CPA I work with asks for formal valuations because they need accurate numbers for estate tax returns, trust distributions, and step-up-in-basis calculations.

Residential vs. Commercial Estate Appraisals

Many South Florida estates include more than just a family home. It’s common for families here to own both residential and commercial assets, and each type requires a different analysis.

Residential estate and inheritance appraisals typically cover:

• Single-family homes

• Condos and townhomes

• Triplexes/fourplexes

• Waterfront or luxury property

• Rental homes and small multi-families

These valuations rely heavily on comparable sales, market trends, property condition, and neighborhood dynamics.

Commercial estate and inheritance appraisals may include:

• Warehouses and flex spaces

• Retail plazas

• Office buildings

• Multi-family buildings (5+ units)

• Commercial land

• Mixed-use and special-use assets

These assignments often require deeper modeling, including income approach analysis, market rent studies, cap rate development, and highest-and-best-use evaluations.

Because South Florida estates often involve both property types, it’s important to work with an appraiser familiar with both sides of the market.

Why You May Need Two Separate Appraisals

This is one of the biggest areas of confusion I see. For estate and inheritance cases in Miami-Dade or Broward, it’s very common and sometimes legally necessary to have two separate valuation assignments, because they serve different purposes:

1. Current Market Value Appraisal

This reflects today’s value in the current market. It’s typically used for:

• Asset distribution

• Selling decisions

• Refinancing inherited property

• Updating trust values

• Planning and internal family records

2. Retrospective Date-of-Death Appraisal

This reflects the value as of the exact date the decedent passed away even if that was years ago. This is typically used for:

• IRS step-up in basis

• Estate tax returns

• Probate filings

• Legal proceedings

• Historical value documentation

These are two separate assignments because the market in South Florida changes fast. The value of a home in Coral Gables today has nothing to do with what it was worth five years ago. Same for a warehouse in Medley or a duplex in Hollywood.

Why Hiring a Local Appraiser Matters

Estate and inheritance assignments require more than just knowing how to run comps. A local Miami-Broward appraiser understands:

Block-by-block market behavior

In Miami-Dade especially, values can shift drastically within a few streets Brickell vs. The Roads, North Miami vs. Biscayne Park, Cooper City vs. Davie, etc.

Zoning, overlays, and land-use rules

T-zones, Opportunity Zones, marina overlays, redevelopment districts all of these affect value.

How probate attorneys, CPAs, and courts expect reports to be structured

Estate files must be clean, well-supported, and USPAP-compliant. There is zero room for “ballpark” numbers.

How to handle both residential and commercial appraisals in one estate

Many families have a mix of assets. Working with one appraiser who understands both sides keeps everything streamlined and consistent.

Final Thoughts

Estate appraisals shape major financial decisions for families, attorneys, and accountants. In a market as diverse and fast-moving as Miami and Broward, having a reliable, defensible valuation is essential not optional. If you need one, or just have questions about the process, don’t hesitate to contact us.