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Why retain an ISA accredited appraiser?
Pennsylvania does not license or certify personal property appraisers. ISA members are required to have a minimum of 3 years proven experience in appraising plus years of course work in ethics, the Uniform Standards of Professional Appraisal Practice (USPAP), appraisal theory, specialty studies and experience in their area of expertise. To maintain accreditation, ISA appraisers participate in continuing education seminars that are sponsored by appraisal organizations.
Values change over time, so updated appraisals are essential. Tax issues, estate planning, legal settlements and insurance contracts often require a current, formal appraisal. And, a current appraisal is essential for adequate insurance coverage or negotiations.
Whenever there?s a question about the value of your personal property, there?s also a risk involved.
Examples of risk may be:
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Selling too low
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Paying too much
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Being under or over insured
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Not getting your fair share in a division of property
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The risk of incurring tax penalties or being audited when claiming a deduction for charitable contribution or when calculating estate taxes.
To be assured that your appraisal report conforms to today's generally accepted appraisal standard, which is the ISA Appraisal Report Writing Standard, retain an appraiser who is accredited or certified. There is a difference!
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