Read through our guide below for a professional appraisal and how to prepare for it.
HOW TO PREPARE FOR THE ON-SITE INSPECTION
- Decide which items you want to have appraised.
- Make sure they are accessible.
- Unpack items in drawers, boxes, trunks.
- Put things of like kind together.
- Arrange china and glass by patterns.
- Gather receipts, certificates of authenticity, photographs, or earlier appraisals.
Taking these steps will streamline the appraisal process and ultimately save you money.
A COMPETENT APPRAISAL REPORT HAS . . .
- A cover document explaining in detail what type of value or cost is being sought (“purpose”) and how the appraisal is to be used (“intended use”).
- The description of the methodology and resources relied upon.
- A definition and description of the market(s) selected.
- A complete and accurate description of the property written in such a manner that it can be identified without photographs.
- The date(s) and location(s) of inspection and the effective date of the report.
- A current USPAP certification statement. Competent appraisers must take a USPAP update course every two years.
- The appraiser’s qualifications and signature.
DO NOT ACCEPT AN APPRAISAL IF . . .
- It is handwritten or unsigned.
- The fee is based on a contingency fee or on the value of the property.
- The appropriate “purpose” and “intended use” are not stated.
- The item is beyond the appraiser’s expertise.
- The appraiser lacks training in appraisal methodology.
- The appraiser is not willing and able to defend the appraisal in court.
- The appraiser prepares the appraisal report in anticipation of buying items from you after the report is completed.