FREQUENTLY ASKED QUESTIONS

What functions do appraisals serve?

The intended use of an appraisal has an important impact on the value attributed to an object, or objects.  Appraisals may be prepared for a number of different reasons. 

 

These include the determination of values for the following purposes.

 

  • Insurance coverage or a casualty loss deduction

  • Loan collateral

  • Asset liquidation

  • Establishment of a value for a non-cash charitable contribution

  • Equitable distribution of assets

  • Possible sale under Fair Market conditions

  • Federal or state estate tax liabilities