What determines the sales price of personal or real property?
A. The majority of estate assets are appraised by the court-appointed Probate Referee of the State of California. The appraised value then becomes the “asking price.” Interested persons may then submit bids, with the Public Guardian-Conservator looking for the highest and best bid within court guidelines under the Probate Code, which states we may accept nothing less than 90% of the current appraised value.
Related Questions
- Is the "equal or lesser value" test a simple comparison of the sales price of the original property and the purchase price or cost of new construction of the replacement dwelling?
- Ive purchased a Property / Postcode Explorer for Victoria, and it doesn have the sales date and sale price for every record. Why is that?
- Can a veteran add an in-ground swimming pool to the sales price on a new construction property?
