About Appraisals:
A professional personal property appraisal involves a careful on-site examination, detailed research and analysis, a thorough market comparison study, and a declaration of adherence to USPAP. This is essentially true for both written and verbal appraisals. A qualified appraiser is unbiased, has experience, education, ethics, and affiliation with a professional appraisal association. The need for a personal property appraisal arises for various reasons, including insurance coverage or claims, estate tax or disposition, sales or purchase advisory, divorce or bankruptcy. An appraisal written for one intended use is typically invalid for another; there are different types of value depending on the purpose of the assignment. The following links lead to more information about professional appraisal organizations: ASA ISA SoCal Appraisers
USPAP Compliance:
Uniform Standards of Professional Appraisal Practice (USPAP) insure that certain tenets of professionalism, competency, confidentiality and ethics are met. USPAP also safeguards against conflicts of interest that arise when a person offering an opinion of value has or could have a vested interest or bias towards or against the property or the owner. It is mandatory for professional appraisers to comply with USPAP. To view more information on USPAP, visit its governing body, the Appraisal Foundation
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