Once in a while, and these occasions don’t occur with great frequency, the personal property appraiser is asked to take on an assignment for which there is no precedent, no standards set by USPAP, no guidelines provided by his or her professional association, and very little reference to the subject in other disciplines.
Such a situation arose earlier this year when we were approached by the director of a trust to provide:
A. fair market value appraisal
B. replacement value appraisal
C. fair market/replacement value leasing fee
The above is an excerpt from an article by Elin Lake-Ewald, Ph.D, ASA, RICS, published in the Journal of Advanced Appraisal Studies, (c) Foundation for Appraisal Education, 2010.
To read the complete article please click here: