ABOUT APPRAISALS

What is an Appraisal?

First and foremost. . .A Legal Document!

 

The North American Conference of professional appraisal Organizations defines an appraisal as:

"An appraisal is a written statement, independently and impartially prepared by a qualified appraiser, setting forth an opinion of defined values of an adequately described property, as of a specific date, supported by the presentation and analysis of relevant market information."

 

Appraisals are needed when a client is:

Seeking insurance coverage for home contents

Settling an insurance claim

Making a non-cash donation for Federal Income Tax Deductions

Downsizing

Settling an estate of a loved one

Financial and estate planning

Divorcing