With the government, courts, judges, banks, attorneys, accountants, insurance representatives
and other professionals examining more closely the personal property appraisal report, it is
important to know what to expect from a professional personal property appraisal report.
Here are a few points that a professional report should have:
A complete and accurate description of the property
Analysis of the factors affecting value reflecting the appraiser's research
in accordance with the standards required by government authorities.
A definition of value appropriate to the type of appraisal
A value for the property appraised substantiated by the report analysis
The appraiser's qualification page
The appraiser's signature
The appraiser's statement that the appraiser does not have a financial
interest in the property
You should confirm with the appraiser that the appraiser's report can be
defended in court if needed
The Appraiser shall obtain the relevant facts relating to the subject property to
form the final conclusion of value.
All formal appraisal reports shall be in writing signed by the Appraiser.
The Appraiser shall disclose any interest in the subject property and will accept
an appraisal assignment only if the appraisal can be performed without bias.
The Appraiser shall maintain the confidential nature of the appraisal report.
The contents of the report shall not be disclosed without consent of the client
or by court order.
The fee charged by the Appraiser shall be independent of the value in the report.
The Appraiser shall maintain respect for others in the appraisal profession.
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