Is an online home-value estimate enough for the probate inventory, or do I need an appraisal? – North Carolina

Short Answer

In North Carolina, the probate Inventory should report the condo’s fair market value as of the date of death. An online home-value estimate can be a starting point, but it is not always reliable enough if the value is likely to be questioned by the Clerk of Superior Court or by heirs. A licensed appraisal is not required in every estate, but it is often the safest way to support the Inventory value—especially if the condo will be sold, the value is close to a fee threshold, or there is family disagreement.

Understanding the Problem

In a North Carolina probate estate, can an estate administrator list a condo’s value on the probate Inventory using an online home-value estimate, or must the estate obtain a formal appraisal to report the condo’s date-of-death value to the Clerk of Superior Court?

Apply the Law

North Carolina probate reporting focuses on fair market value—what a willing buyer would pay a willing seller—measured at the date of death. The Inventory is meant to be more complete and better supported than the early “preliminary inventory” estimates used when opening the estate. North Carolina law allows (but does not require) the personal representative to hire a disinterested appraiser to help determine fair market value, and the Clerk can require better evidence if the reported value appears unreliable or disputed.

Key Requirements

Date-of-death value: The Inventory should reflect the condo’s fair market value as of the decedent’s date of death, not today’s value.
Good support for the number used: The Inventory should use an “actual” fair market value figure when reasonably available. If the value is still being determined, the condo can be listed as “undetermined” while the valuation is in progress, with a follow-up update later.
Proper identification and detail: Real property should be identified clearly (such as address and parcel/PIN or tax map information) so the Clerk can match the asset to county records and so heirs understand what is being reported.

What the Statutes Say

N.C. Gen. Stat. § 30-3 (Valuation of property) – Uses a fair-market-value framework and generally measures value as of the date of death.
N.C. Gen. Stat. § 46A-84 (Independent appraisal in certain sale disputes) – In some court-supervised sale disputes, the court may order an independent appraisal by a licensed appraiser if requested and not already in evidence.

Analysis

Apply the Rule to the Facts: The estate has one major asset: a condo. For the Inventory, the administrator should report the condo’s fair market value as of the date of death and provide enough detail to identify the property. An online estimate may not reflect the condo’s true condition, upgrades, HOA factors, or recent comparable sales, so it can be vulnerable if the Clerk or beneficiaries question it. If the value is uncertain or likely to be challenged, a licensed appraisal (or at least strong comparable-sales support) is often the most defensible way to set the Inventory value.

Process & Timing

Who files: The estate administrator (personal representative). Where: The Clerk of Superior Court in the county where the estate is administered. What: The North Carolina probate Inventory form used by the Clerk’s office (AOC form). When: The Inventory is typically due early in administration; if a valuation is not ready, the asset may be listed as “undetermined” while an appraisal or other valuation support is obtained.
Support the value: Gather documentation that ties to date-of-death fair market value (for example, a licensed appraisal effective as of the date of death, a broker price opinion with date-of-death comps, or other credible market data). If an appraiser is used, the Inventory should identify the appraiser with the asset.
Update if needed: If the condo’s reported value later proves wrong or incomplete, the administrator should correct the record (often through a supplemental inventory or by reporting the corrected value in later filings, depending on the Clerk’s local practice).

Exceptions & Pitfalls

Online estimates can be the wrong “date”: Many websites show a current estimate, not a date-of-death value. A value that is not tied to the date of death can create problems when the Clerk compares filings or when heirs review the Inventory.
Disputes increase the need for an appraisal: If heirs distrust the administrator’s judgment, a neutral, disinterested appraisal can reduce conflict and create a clearer record.
Sale-related challenges: If the condo will be sold through a court-supervised process and someone challenges the price as inadequate, the court may require an independent appraisal in that dispute context.
Using tax value without context: County tax values can be useful background, but they may not equal fair market value and may not match the date-of-death value.
Not enough property detail: Failing to list the condo with clear identifying information (address and parcel/PIN or similar) can lead to Clerk questions and delays.

Conclusion

For a North Carolina probate Inventory, the condo should be reported at its fair market value as of the date of death. An online home-value estimate may be acceptable in a low-conflict estate where the number is unlikely to be questioned, but it can be too thin if the value is uncertain or disputed. A formal appraisal is not always required, but it is often the best support when accuracy matters. Next step: file the Inventory with the Clerk of Superior Court using a date-of-death value, or list the condo as “undetermined” while a date-of-death appraisal is obtained.

Talk to a Probate Attorney

If an estate administrator is trying to decide whether an online estimate is enough for a condo’s probate Inventory value in North Carolina, our firm has experienced attorneys who can help explain the Clerk’s expectations, the documentation to gather, and the timing for updates. Call us today at (919) 341-7055.

Disclaimer: This article provides general information about North Carolina law based on the single question stated above. It is not legal advice for your specific situation and does not create an attorney-client relationship. Laws, procedures, and local practice can change and may vary by county. If you have a deadline, act promptly and speak with a licensed North Carolina attorney.