Bidderone.com offers recommendations for
certified appraisals for Insurance, Probate, Divorce, and estate
distribution for a variety of personal property, antiques, collectibles,
art, general merchandise, in addition to commercial assets. Our
recommendations have years of on the job experience ensuring that your
appraisal for probate, divorce, or insurance will stand up to the tests
necessary.
The appraisals are
documented, researched, produced, supported, and presented
professionally. All appraisals are done in the strictest confidence
and released only to you.
Call us today if
you need appraisal work done. Let us help you find the right
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Appraisal
Definitions
Fair Market Value... The
Fair Market Value is the price at which the property would change hands
between a willing buyer and willing seller, neither being under any
compulsion to buy or sell, and both having reasonable knowledge of relevant
facts. The Fair Market Value of a particular item of property included
in the decedent's gross estate is not to be determined by a forced sales
price. Nor is the Fair Market Value of an item of property to be
determined by the sale price of an item in a market other than that in which
such item is most commonly sold to the public, taking into account location
of the item wherever appropriate. Thus, in the case of an item of
property included in the decedent's gross estate, which is generally
obtained by the public in the retail market, the Fair Market Value of such
an item of property is the price at which the item or a comparable item
would be sold at retail. Note: Divorce appraisals in Ontario require that
these appraisals are done for Fair Market Value.
Replacement
Value... The
appraiser's professional opinion of the dollar amount it would cost to
purchase a new or used asset of like quality and specifications. When
such an asset is unavailable in the marketplace, and no other comparable or
substitute item is available, the appraiser must use their best judgment on
a cost approach basis in estimating a value as of the date of this
appraisal.
Auction
Market Value... Is
the appraisers opinion of the estimated gross amount expressed in terms of
dollars which could typically be realized at a properly advertised and
conducted public auction without reserve, held under forced sale conditions
and under present day economic trends, within sixty days of the appraisal
report. Conclusions consider; conditions at time of inspection,
quantities and desirability, location, general appearance, psychological
appeal, physical condition, cost of similar or like used and or new, degree
of specialization or modifications, adaptability, market economics and
quality or name acceptance. Further the ability of the asset group to
draw sufficient prospective buyers and ensure competitive offers is
considered. All assets are to be sold on a piecemeal basis "as
is" with purchasers responsible for removal of assets at their own risk
and expense. Any deletions or additions to the total package could
change the psychological and/or monetary appeal necessary to gain the price
indicated.
In-Place
Value... The appraiser's professional opinion
of the gross dollar amount to be realized in the sale of all of the assets
between a willing buyer and a willing seller in the open market assuming
that neither party is under compulsion to buy or sell, both being fully
aware of all relevant facts. This value assumes that the property is
being sold `as is where is' in good condition to a buyer who will maintain
these assets in their entirety, in their present location as of the date of
this appraisal.
The In-Place takes into consideration the following:
The Fair Market Value of the assets
The
convenience and cost saved by being in place, ready to use.
The
In-Place Value places no value upon financial condition of the owners or
good will.
Orderly
Liquidation Value... The
appraiser's professional opinion of the estimated gross amount expressed in
terms of dollars, which the asset could typically realize if exposed for
public sale at a properly advertised and professionally managed orderly
liquidation at a listed or negotiated price usually within a specified time
as of the date of the appraisal report. Further, the ability of the
asset group to draw sufficient prospective buyers to insure competitive
offers are considered. All assets are to be sold on a per item basis,
in "as is" conditions with purchasers responsible for removal of
assets at their own risks and expenses. Any deletions or additions to
the total package could change the psychological and/or monetary appeal
necessary to gain the price indicated.
