(a)
The probate referee shall promptly and with reasonable diligence appraise the property scheduled for appraisal by the probate referee in the inventory that the personal representative delivers to the referee.
(b)
The probate referee shall, not later than 60 days after delivery of the inventory, do one of the following:
(1)
Return the completed appraisal to the personal representative.
(2)
Make a report of the status of the appraisal. The report shall show the reason why the property has not been appraised and an estimate of the time needed to complete the appraisal. The report shall be delivered to the personal representative and filed with the court.