Appraisal FAQ

The Qualified Appraisal and Qualified Appraiser, Explained

  • A qualified appraiser follows a set of national standards developed by the Appraisal Standards Board (ASB) of The Appraisal Foundation
  • A qualified appraiser adheres to a professional code of ethics developed and maintained by their professional appraiser organization 
  • A qualified, USPAP compliant, appraisal will be admissible in a court of law and meet federal requirements and 
  • A qualified appraisal includes a cover document explaining the type of value being sought and how the appraisal will be used
  • A qualified appraisal should have descriptions written in such detail, one can obtain a clear image of the item in their mind's eye
  • A qualified appraisal should contain a current USPAP certification statement
  • A qualified appraiser will not have a conflict of interest - meaning the appraiser does not have an interest or role in profiting from the auction, purchase, or sale of the appraised items
  • A qualified appraiser will not associate their fee with the value of the appraised property
  • IRS Treasury Regulations require that one must obtain a "qualified appraisal", signed and dated by a "qualified appraiser" when determining the value of donated property above certain thresholds 

Verbal Appraisal | A Better Fit? 

If you simply need general value and history information for your property, a verbal approximation of value may be the best fit. A verbal appraisal will deliver the information you want to know about your personal property; it is created with the same research process and categories of information in a written report, just delivered in a different format.
Important: Verbal appraisals are not a replacement for the requirements associated with insurance or estate appraisals. Similar to Antiques Roadshow, a verbal approximation is provided; notetaking encouraged.
  • What is it worth? What do I have here? A verbal approximation of value is a sound choice when you are simply curious about the value of an item
  • When one is planning to resell property and needs to confirm value first
  • A must when downsizing or working with a Senior Move Manager 
  • A must before an auction or estate sale company arrives to prepare items before a sale; auctioneers profit by selling a large quantity of items. Rarely do you find one with expertise in in individual item prices
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Food for Thought

* Would you contract with an unlicensed individual to appraise your home? car? boat?
* Be wary of appraisals that charge an amount or percentage tied to the appraised item's value
* An ethical appraiser will not have a vested interest in buying or selling the appraised item(s)
* Handwritten appraisals aren't professional
* An unsigned appraisal won't get you very far
* Cookie-cutter, one size fits all appraisals lack more than details
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