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| Home | Services | Qualifications | Fees | The Professional Appraisal | FAQ | Contact Us | ||
| There is no such thing as a "Free Appraisal" | ||
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Jump to info on: - ASA - USPAP |
A "Free Appraisal" offered for personal property by anyone other than an appraisal professional is more likely to be verbal opinion of value, rather than a professional appraisal report. An appraisal is a professionally developed, reasoned conclusion of value. This value is concluded based upon research at the appropriate market levels, and is substantiated by market examples. The professional appraisal is prepared for a specific purpose with independence, impartiality, and objectivity. An appraisal report is signed document which is suitable for submission to insurance companies, the courts and the Internal Revenue Service. As required by the Code of Ethics of the American Society of Appraisers and the Uniform Standards of Appraisal Practice (USPAP), the appraiser must report the facts acting as a disinterested third party, rather than as an advocate. Appraisal procedures, research methodology, market selection, and the resulting value conclusions can differ with various purposes and functions of appraisal assignments. A report prepared for one purpose very likely would be inappropriate for another; for instance, an insurance coverage appraisal would not be acceptable for use in estate tax or charitable contribution matters. A Feasibility Analysis is a study of the marketplace, frequently performed to determine economic benefits of sale or sale versus charitable contribution.
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| ASA | ||
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Jump to info on: - ASA - USPAP |
The American Society of Appraisers is an international organization of appraisal professionals and others interested in the appraisal profession. ASA is the oldest and only major appraisal organization representing all of the disciplines of appraisal specialists. The American Society of Appraisers: |
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▪ Helps the public and professionals find an ASA accredited appraiser; |
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▪ Is the only professional valuation organization that accredits members in every appraisal discipline; |
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▪ Works to grow the appraisal profession; |
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▪ Fosters professional excellence in its
membership through education, accreditation, publication, and other
services, |
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A four-year college degree, followed by the Appraisal Studies coursework and five years of full-time experience performing appraisals are required before applying for senior level membership. ASA has mandatory continuing education requirements, which must be met every five years. The American Society of Appraisers may be reached at: |
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American Society of Appraisers www.appraisers.org International Headquarters P.O. Box 17264 Washington, D.C. 20041-0265 or 555 Herndon Parkway, Suite 125, Herndon, VA 20170 Tel: 800-ASA-VALU Fax: 703-742-8471
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| The Appraisal Foundation | ||
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Jump to info on: - ASA - USPAP |
The Appraisal Foundation strives to be the ultimate source of appraisal standards, appraiser qualifications, and standards of ethical conduct in all valuation disciplines to assure public trust in the valuation profession. A not-for-profit organization dedicated to the advancement of professional valuation, The Appraisal Foundation was established by the appraisal profession in the United States in 1987. Since its inception, the Foundation has worked to foster professionalism in appraising by: |
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▪ establishing, improving, and promoting the Uniform Standards of Professional Appraisal Practice (USPAP); |
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▪ establishing educational experience and
examination qualification criteria for the licensing, certification,
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▪ establishing educational and experience qualification criteria for other valuation disciplines; |
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▪ disseminating information on USPAP and
the Appraiser Qualification Criteria to the appraisal profession,
state and |
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▪ sponsoring appropriate activities
relating to standards, qualifications, and issues of importance to
appraisers and |
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| (Extracted from the Strategic Goals of The Appraisal Foundation as adopted on 11/01/2008.) | ||
| The Appraisal Foundation may be reached at: | ||
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The Appraisal Foundation
www.appraisalfoundation.org 1029 Vermont Ave., NW, Suite 900 Washington, D.C. 20005 The Publications Department can be reached at Tel: 202-347-7722 e-mail: info@appraisalfoundation.org
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| The Uniform Standards of Appraisal Practice (USPAP) | ||
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Jump to info on: - ASA - USPAP |
In 1987 the federal government established a detailed list of minimum standards for appraisers, known as the Uniform Standards of Appraisal practice, or USPAP. The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 recognizes USPAP as the generally accepted appraisal standards and requires USPAP compliance for appraisers in federally related transactions. State Appraiser Certification and Licensing Boards; federal, state, and local agencies; appraisal services; and appraisal trade associations require compliance with USPAP. All appraisal reports must include a signed and dated certification that these UPSAP requirements have been fulfilled. The USPAP exam must be successfully re-taken every five years to ensure familiarity with recent USPAP updates and to maintain ASA certification. Among the many stipulations, USPAP requires that the appraiser act as a neutral, disinterested third party, who reports the facts in an unbiased manner. These requirements comprise the "standard of care" to which all appraisers must adhere. For information about the federal minimum standards for appraisers (USPAP) you may contact The Appraisal Foundation.
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| 248 E. Foothill Boulevard - Suite
102 . Monrovia, California 91016 . Phone:
626-256-0500 . Fax: 626-256-4646 .
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| Home | Services | Qualifications | Fees | The Professional Appraisal | FAQ | Contact Us | ||