Professional Property and Real Estate Appraisers
Professional certified appraisers determine the value of various items, ranging from real estate to antiques, by thoroughly inspecting the given item, researching it and the market and then performing specific calculations. Through the services of appraisers, people are able to:
- buy items at a fair price
- get items properly (and fully) insured
- pay an adequate amount in taxes on the item
- sell items for what they are worth.
Occasionally, some people may just want an appraisal for the mere satisfaction of knowing what their prized possession is worth.
While people can get a variety of items appraised, most people usually meet appraisers for the first time when they purchase their first home. The appraiser helps them determine if the property in question is worth the price the seller is asking. However, professional real estate appraisers make up a small segment of the many professionals whose business it is to help individuals and companies assess the price of their items.
Items that Can Be Appraised
Some of many different types of items that appraisers evaluate include:
- antiques, including furniture, books and toys
- businesses
- cars
- expensive artwork and paintings
- furs
- jewelry.
People also use an appraiser when they have their wills written, as well as when they want to add on to their home or office.
On a corporate level, if your business owns an aircraft, high-tech equipment or a quarry, you’ll need to get them all appraised to be sure you are properly insured and to help you map out the future of your business.
Types of Appraisers
The American Society of Appraisers represents an assortment of appraisal disciplines and specialties. The organization categorizes various types of appraisals into the following categories:
- business valuation
- gems and jewelry
- machinery and technical specialties
- personal property
- real estate.
Business Valuations
Trained appraisers who specialize in business valuations can figure out the value of a business by considering the worth of the business':
- copyrights
- employment agreements
- property
- securities
- stocks.
Some companies, including professional accounting firms, have specially trained employees who do business valuations for any size company, small or large.
Personal Property Appraisers
Although most personal property appraisers specialize in evaluating antiques, paintings and fine art, appraisers can determine the value of nearly any other piece of personal property, including:
- fine china
- firearms
- Oriental rugs
- sculptures
- silver
- sports memorabilia
- wine.
Real Estate Appraisers
Real estate appraisers will have the knowledge to understand market values in your neighborhood, city and state and calculate them against the specific details of your property. These types of appraisers determine the worth of farmland, homes and urban areas. Some aspects that real estate appraisers take into consideration while appraising a property are:
How to Find an Appraiser
Appraisal associations are good places to starting looking for nearly any type of appraiser. A quick search on the Internet for "appraisal associations" will yield a number of nationally recognized, reliable agencies that can provide you with appraisal services. To narrow down your choices, call or e-mail one of the organizations to ask for a referral for an appraiser in your town or city.
Many appraisal associations list their members, along with contact and other relevant information about their backgrounds, online. Some, such as the American Society of Appraisers, also offer testing and accreditation in most appraising areas.
If you are looking for an experienced, trustworthy appraiser, you should contact a few appraisers. Ask each of them for references, as well as information about their training, their expertise and how long they have been in the field. Sometimes, you can find a qualified appraiser by just asking friends and family who have used appraisers in the past. Your insurance company may also be able to recommend reputable, honest appraisers.
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