The Appraisal Process
The appraisal process begins with the purpose of the appraisal, assets to be appraised, and determining whether an onsite or desktop appraisal is needed. Once onsite, we photograph the assets, create a list with description and assess condition.
In the office, we conduct research to arrive at a valuation conclusion. A narrative appraisal report is then created to include a list of assets, values and photographs. The client receives a pdf file of the appraisal report. We retain a copy of the appraisal report and related work files for a minimum five years (in compliance with USPAP) for any potential legal proceedings.
How to Prepare for an Appraisal
What do we need from you?
We need to know the purpose of the appraisal, who will be using the appraisal, and location.
How long does it take?
Typically smaller jobs are finished a few days after we have visited or have been provided photos and details of the assets.
Is my information shared with anyone?
Confidentiality is important to us. We do not release any information to third parties unless directed by the client.
What information might be needed?
Past appraisals, copies of invoices, vehicle identification numbers, mileage, depreciation schedules, purchase prices and age of items are very helpful to the appraisal process.