The Appraisal Process

Examination: Each piece of property to be included in the appraisal is thoroughly examined by the appraiser for condition, characteristics, and dimensions.  When the item cannot be inspected due to loss, theft, or damage, the appraiser will make critical assumptions based on interviews with the owner and any prior photos.  The information is recorded on the appraiser's worksheets or sometimes directly into a computer.

Photographs are taken to document the item's existence and to aid in research.  Photographs are included in the appraisal document, and are either 35 mm or digital photos.

Value conclusions for appraisals are based on comparable sales analysis.  Research time includes the time taken to identify marks, verify dates, locate comparable sales data, investigate retail markets, and consult experts, if necessary.  This produces an accurate report that protects you and your property.

A complete appraisal report has a cover document explaining the type of value being sought and how the appraisal is to be used, the methodology and resources relied upon, the date and location of the inspection, the effective date of the value, a statement that the appraiser has no financial interest in the property, and the appraiser's signature.  The body of the appraisal contains an accurate description of each item of property in the report, along with the value conclusions.  The addendum contains the appraiser's qualifications to perform the appraisal.

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