Mid-Atlantic Appraisals, Claims & Estate Liquidations, LLC
The purpose of an appraisal assignment is to determine the value of an item or estimate the replacement cost of an item. An appraiser is one who is expected to perform such a service in a manner that is independent, impartial and objective. The appraisal process can be divided into seven steps:
1. Identify the appraisal problem;
2. Determine the scope of work;
3. Analyze the property;
4. Collect and analyze the date;
5. Analyze the listings and prior sales;
6. Arrive at a final opinion of value; and
7. Communicate assignment results to the client in report format.
The client is an integral part of this process during the initial two stages of the process, as well as the final stage. However, the appraiser should be able and willing to communicate his/her progress at any given time, ensuring a punctual and reliable work product.
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