Some resources for understanding the proper personal property appraisal process.

I will list suggest some resources if you need a legitimate and properly prepared Personal Property Appraisal.

1) Contact me with questions at: gregcbrown@asianappraisals.com or Toll Free at 1-888-355-6939. I am a credentialed member of the International Society of Appraisers (ISA) and have passed the USPAP examination. 2) Ask your appraiser for their “APPRAISAL CV”/Resume, if they have not provided it. If they can not produce one, they are most likely not true professional appraisers, but instead other types of professionals who are self-proclaimed experts, with no training in proper appraisal practices, so be careful. If the personal property appraisal is for insurance, ask your agent what they want. I am always glad to talk to my clients insurance agents to make sure we are on the same page!  If it is for the IRS, they require the appraisals to be USPAP compliant. One of my teachers explained to our class that out of over 4 million people saying they are appraisers in the US, there are only about 1,500 who are trained to be USPAP compliant! Yes, really! So, ask questions, because you get exactly what you pay for in this industry!

3) What are the basics of the appraisal process you should be aware of? a) The appraiser should ask you questions in order to determine what your intended use of the appraisal is, which you will decide together, b) there should  be a formal agreement/contract, c) appraiser inspection of the property to be appraised, ideally this should always be in person, but photographs are allowed for less valuable property and under unusual circumstances. If the property has significant value, the appraiser must examine the property in person, d) research on the identification of the property will be conducted, e) the identification of proper comparables to prove the valuation reasoning, f) writing of the report.

4) Want to know more about the legitimate appraisal profession, go to The Appraisal Foundation website at: http://www.appraisalfoundation.org.

5) if you are not sure, or do not understand any aspect of the process, ask, ask and ask more questions of your prospective appraiser.

The image below is of me at an archaeological site and museum in Chengdu, China.

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