Walk-Throughs: Performing as an Appraiser vs. as an Estate Liquidator
(by Dave Maloney) Appraisers often conduct walk-throughs as a cost-effective way for the client to obtain the information he or she is seeking. These types of assignments often call upon the appraiser to develop opinions of value and report them orally, i.e., to perform an oral “appraisal.” At other times, these walk-throughs turn out to be not “appraisal” assignments being performed by an “appraiser”, but rather “pricing services” being provided by an “estate liquidator.”
Performing Walk-Throughs as an Estate Liquidator
Sometimes estate liquidators who are also appraisers are called upon to perform as appraisers. Sometimes they are not, such as when they are asked by the client to perform as estate liquidators instead. If they are appraisers belonging to certain appraisal societies, they must comply with USPAP if developing “opinions of value” for the estate sale client, but if, instead, they are performing a “pricing service” as an estate liquidator, then they are not so bound. Indeed, in the latter scenario USPAP does not even apply. USPAP applies only to appraisal practice services and not to offering “pricing services.”
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