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Appraisal Review Standard of Care for Attorneys

The Association of Certified Family Law Specialists published this article in their journal’s Summer 2021 ACFLS Family Law Specialist. Appraisal review is, first and foremost, a standardized process that provides guidelines for assessing the overall quality of an appraisal relative to applicable standards, while concurrently addressing the degree to which that appraisal is credible, logical, and…Read More

Risk Management with Appraisal Review

ASA Newsroom recently interviewed me about “Managing Risk with Appraisal Review,” a topic I addressed in a recent article published in the ASA ARM E-Journal™. The interview touches on the critically important role review contributes to risk management and mitigation for many clients/users of appraisal services, including attorneys, bankers & lessors, CPAs, Departments of Government,…Read More

Appraisal Review Risks and Rewards

The American Society of Appraisers recently posted an excellent discussion of appraisal review practice by our ARM colleague Mark Penny, ASA, ARM-BV, BV-IA. Mark’s article is primarily for appraisers who perform review work or are interested in doing so. It’s also an interesting read for those who might need an appraisal review. Lawyers often need…Read More

BV Review Journal Publishes Appraisal Review Article

A recent article in the Business Valuation Review publication focuses on these questions while also addressing the qualities that determine credibility of an appraisal, the importance of focusing on the appraisal under review rather than the appraiser who produced it, and the importance of appraisal review education for all appraisers who perform reviews. I was…Read More

Gauging Competency in Appraisal Review

While gauging competency in appraisal review is similar to using a limit gauge in order to determine whether a part is within prescribed limits of tolerance, it’s not, of course, that simple. An appraiser’s competency depends on a number of factors, ranging from experience with the equipment and its market to the intended use of…Read More

Appraisal Review: Determining Whether an Appraisal is Credible

Appraisal review raises the bar on appraisal reports by providing professional, expert review of how well the report aligns with standards of appraisal practice, including the ability of the intended user to understand the report. Appraisal review, as discussed in a previous post, is a standardized methodology that provides guidelines for adjudging the overall quality of…Read More

The Difference Between an Appraisal and an Appraisal Review

When clients call our office asking for an equipment appraisal review, I’ve found it’s important to ask them the purpose of the appraisal review. That quickly opens up the discussion about what an equipment appraisal review is and is not. And believe me, not everyone understands the difference between an appraisal (a quantitative analysis) and…Read More

Stabilization of Value: Expanding the Appraisal Lexicon

In many of my appraisals, particularly for used in litigation, I’m frequently asked to justify the opinion of value for equipment that has outlived its expected life. Part of the general confusion can be attributed to the common misunderstanding between an accounting depreciation schedule and the practical value of machinery or equipment, including the oversimplification…Read More

Appraisals in the Time of Pandemic

The evening of March 12, we were on a mostly empty flight back from Pittsburgh, PA where we’d spent 4 days inspecting a chain of grocery stores for a buy/sell agreement. The TP and hand sanitizer sweep began while we were there, as the Allegheny County Health Department confirmed COVID-19 cases in the area. On March 13, as you may remember, a…Read More

Stories of Value: Appraisal Podcast from ASA

The American Society of Appraisers (ASA) released an interview with me for the fourth episode of their new podcast ASA Stories of Value. While appraisers do maintain confidentiality regarding clients and valuations, some stories are worth sharing. This appraisal podcast takes a look at the human side of the appraisal profession. Interviews with industry leaders…Read More

3 Red Flags in Machinery & Equipment Appraisal Reports

I recently submitted a few examples of Machinery & Equipment Review problems–along with a sample review report–to an overseas valuation organization that’s putting together an in-house manual for its members. What’s interesting to me is that although this organization follows IVS instead of USPAP, is governmentally regulated in a way that ASA equipment appraisers are…Read More

15 Most Common Appraisal Report Mistakes

Appraisal review isn’t just for appraisers. While attorneys and CPAs may be best served by hiring a trained reviewer for questionable appraisals, they can do an initial pass using a quick checklist of a handful of common appraisal report mistakes. We discuss these errors in great detail in the ARM accreditation classes offered by ASA…Read More