|
- The Interview
- The appraiser needs to find out why
you need the appraisal and get a general idea of the items
involved, so that he may know how to proceed and what
markets to consider for comparables.
-
- Inspection and
Listing
- This is when the appraiser really gets to
know the items being appraised. A detailed inspection is
done of each piece and notes made based on these
observations. Measurements are taken, photographs made, and
many question will be asked about how long you have owned
the items, what you know about their history, previous
appraisals, receipts, existing damage, etc. All of this
information will be incorporated into the final report.
-
- Market
Analysis & Research
- Based on the type of appraisal being
conducted the appraiser will begin to look at the
appropriate markets to be used for comparables. When these
markets have been identified the appraiser will then begin
to investigate them in detail, looking for comparable items
to compare to those being appraised. Today, this can also
include considerable research on the Internet.
-
- Consolidation
of the Data
- The appraiser will begin to pull together
the various pieces of research information and start
arriving at preliminary conclusions of value.
-
- Writing the
Report
- This is the formal analysis of the data
gathered through the research. Every aspect of the appraisal
assignment will be detailed and explained, a detailed
listing of the items being appraised will be made, and
photographs included. Any limiting conditions, hypothetical
conditions, outside expert help, etc., will also be listed.
It should also be stated exactly what type of appraisal is
being conducted and whether or not it complies to the
appropriate USPAP standards.
|
|
