Types of Appraisals we perform
Fair Market Value: Usually for estates appraisal
Fair market value is defined as the value of something that may reasonably be expected for a property in an exchange between a willing buyer and a willing seller, with equity to both, neither under any compulsion to buy or sell, and both fully aware of all relevant facts. This is probably the most common approach to valuation and it applies to many areas we specialize in including, but not limited to: probate and equitable distribution for divorce and prenuptial agreement purposes.
Forced or Liquidation Value:
is the estimated amount that could be typically realized from a properly advertised and conducted public auction, with the seller being compelled to sell with a sense of immediacy on an as is basis. There must be some form of limiting circumstance that would require a sacrifice in the value realized. This is another common approach to value.
The cost of replacing a particular item when it is either lost or destroyed. It is important to remember that the item must be of like quality and specifications. If such an item is unavailable, the appraiser has used his or her best judgment in estimating a value as of the effective date of the appraisal.