FOR PERSONAL PROPERTY APPRAISERS - AN ANNOUNCEMENT!
Learn to provide a cost effective oral personal property appraisal report as a general residential contents appraiser.
The oral appraisal of general personal property residential contents is exceptionally challenging. Many qualified and competent personal property appraisers avoid such assignments or, worse still, conduct them without compliance with USPAP.
Bill Novotny (see photo) was the first personal property appraiser certified by the Appraiser Qualifications Board (AQB) of The Appraisal Foundation (TAF). TAF establishes the minimum education, experience, ethical, competency and performance requirements for personal property appraisers as was required by Congress under FIRREA in 1999 to protect the public. He has been teaching USPAP regularly since 2000.
The demand for a general residential contents appraisal is substantial due to death of a family member, downsizing or other reasons. There are hundreds of objects types and some are rare and of significant value. Often objects are common and ordinary and of nominal value but still important and meaningful to clients.
An oral personal property appraisal report can be provided cost effectively at a fast pace, either as an oral report or, if needed, as a formal Restricted Appraisal Report. The public frequently needs personal property appraisers to find, identify and value all types of residential contents. It can be exceptionally challenging with treasures to be found. For the client it is like having a private Antiques Roadshow in their home.
There are two abbreviated report options provided under USPAP. An abbreviated Oral Appraisal Report Disclosure (OARD) form comes very close to a formal abbreviated Restricted Appraisal Report (RAR) by providing important context and disclosures in writing so the report can be properly understood. Oral appraisal reports are fast paced, cost effective, and occasionally result in the discovery of hidden treasures. Oral appraisals are cost effective and affordable while still being credible or worthy of belief (relevant to intended use) if competently provided.
The first Appraisal Course Associates (ACA) online offering will focus on abbreviated appraisal reports beginning with oral report writing. ACA provides each student with a one page written “Oral Appraisal Report Disclosures” OARD form based on a Restricted Appraisal Report template. Appraisers will learn to identify the problem, land the job, value competently, credibly and to use the report type that meaningfully conveys the assignment results.
The course will also cover phased “preliminary appraisals” with an early objective of negotiated settlement. If negotiations fail then the opinion is subject to change and matter goes to mediation, arbitration or trial. The scope of work changes and the final value opinion will need to be defended, and its basis at arbitration, mediation or trial.
The course will be accompanied by a wealth of commonly useful disclosures that are critical in protecting the appraiser regarding errors and omission while at the same time providing clients with all the information required to make the report meaningful and properly understood. Abbreviated reports are a win-win for all parties when properly completed and based on credible development which will be the focus of the courses.
The course will be based on a powerpoint presentation and recorded narrative readings by Novotny that explain the important factors that must be addressed to provide a USPAP compliant oral appraisal report that is cost effective, highly popular and predictably in demand due to death, divorce, moves, downsizing, litigation, trust management and for a sales advisory..
Mission statement – An oral appraisal report must meet all relevant STANDARD 7 & 8 requirements of USPAP. It must be properly disclosed, it must be relevant to intended use, meaningful and properly understood. It must have been completed competently. We can help prepare you to accomplish all this and more.
Do you need to get a personal property appraisal of some of your residential contents. Do not hesitate to contact Bill Novotny for an onsite of online Oral Appraisal Report complete with an Oral Appraisal Report Disclosures form called an OARD form. Call Now 626-202-2224
Sign up to hear from us about specials, sales, and events.