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Further, appraisalreports must follow the latest version even if the appraiser has NOT taken the latest course. Talk to your client to identify the scope of work. Assignment conditions affect the development part of an appraisal assignment and often necessitate the use of extraordinary assumptions.
I’ve written this basic guide as an introduction to the different levels of value so that users of appraisal services will be able to better determine what sort of appraisalreports would best suit their needs. Fair Market Value is also frequently encountered in equitable distribution and family distribution appraisalreports.
They also must complete a certification exam based on application theory, principles, methodology, ethics, and report writing standards to real-life appraisal scenarios involving the appraisal functions typically encountered by personal property appraisers. Do these organizations require recertification?
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