Appraisals for Resale – A Service or Disservice?
Like the aftermath of the Tower of Babel, we seem to have in the appraisal arena as many theories on how to render a proper appraisal for resale as there are languages. The goal should be to strive to standardize our methodology – which may not be possible.
In a slow economy, one appraisal assignment that is second in popularity to the ubiquitous insurance (obtaining insurance to be precise) is the one for “resale.”
Resale is an appraisal assignment without grammar rules – if we continue our analogy to Babel. Societies do not address it in detail or not at all and every appraiser has an opinion based on experience or frail logic. And the Lingua Franca or consensus about this popular appraisal assignment usually boils down to fair market value.
But is that the correct approach?
Here is a webcast that will challenge prevalent methodologies – perhaps providing a desired valuation parlance.
Best to view at full screen - lower right-hand box in controls has option - to revert back, press the ESC key.
Note: Illustration on right is the Tower of Babel by Athanasius Kircher 1679 – lithograph circa 1900.