Most appraisals are prepared with a current “as of” date. In some cases, it is necessary to develop an appraisal as of a date from the past. This is the case often in property disputes, estate settlements, income tax cases and court cases. When an appraisal is needed for a value as of a date in the past, we in the profession call this a Retrospective Appraisal or a Retrospective Value. Retrospective Appraisals are prepared in much the same way as a current value appraisal; however, the value is developed and supported from historic data relative to the time frame of the effective date of the appraisal. This process can be a challenge to the appraiser inexperienced with retrospective evaluations, especially when the effective date is many years in the past. The challenge can be the most intense when data is no longer retained by comparable databases or when buildings which existed as of the effective date of the Appraisal have been razed.
ELLIOTT® has a network of appraisers capable of providing Retrospective Appraisals anywhere in the United States.