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Imagine you are doing an appraisal for a single family home on three acres and, upon analysis, you realize there is more value in subdividing the lot. Then you find out the buyer is buying the property to benefit from that value and already has the subdivision process in the works. The appraiser is in charge, the appraiser directs it.
Different types of appraisals call for different needs. As an appraiser, you are the most qualified to make choices regarding an appraisal. With the advent of the hybrid appraisal, it seems that the need for comp photos has become obsolete. What’s important to remember is the realm of your scope of work.
I have a hundred-thousand-dollar hog I need appraised for insurance purposes. That’s what I paid for it so I would expect that it would appraise for that. What would you charge to come out and appraise the hog? I do not know of any credentialed livestock appraisers in Nashville, so a referral is not possible.
A Note from the Co-Editor: As an appraiser, I frequently invite new clients to send me pictures of their items so I can review them in advance and better assist with designing an appraisalscope of work that is most appropriate to their needs.
As partners of the Appraisal Foundation, we adhere to Personal Property Appraiser Qualification Criteria. Qualifying appraisal experience consists of tasks associated with the accomplishment of personal property assignments which result in a USPAP compliant report. As appraisers, we are market researchers.
My latest article for Worthwhile Magazine™ tackles a tricky area of appraising: understanding the different levels of value. This is one of the most confusing elements of appraising that I spend a lot of time discussing with clients, so I wanted to cover the subject in an article that could reach and help a much broader audience.
Tweet By Thomas Dawson, ASA Spotlighting five key areas appraisers need to know to be covered in ASA ’ s upcoming PP163 Property Insurance Fundamentals webinar. In the property insurance industry, appraisers play a vital role, particularly when it comes to claims.
Makes retention recommendations or decisions concerning objects and documents by appraising such characteristics as their legal, fiscal, administrative, informational, and/or intrinsic value. Develops scopes of work for appraisal, cataloging, and other documentation activities.
In gathering information to write this post, I was shocked to discover that anyone can legally present themselves as a personal property appraiser. There is no governmental license, proof of knowledge, or certification required to appraise personal property.
When you’re working on a project that requires a USPAP-compliant report, the appraiser’s certification is an essential part that allows an intended user to understand how you complied with USPAP. Did you do an “in-person” inspection for the December 2024 project?
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