1. |
Fair Market Value Appraisals
are used for family division, estate and
tax purposes. A fair market value is the price
that the property would sell for on the open
market. It is the price that would be agreed on
between a willing buyer and a willing seller. |
2. |
Auction Value Appraisals
are the appraisers professional
opinion of what the final sales price will be of
the specific item at a properly advertised and
conducted public auction without reserve, held
under existing sale conditions and under present
economic trends within a specified time. |
3. |
In-Place Value Appraisal
is the appraisers professional
opinion of the gross dollar amount to be realized
in the sale of all of the assets between a
willing buyer and a willing seller in the open
market. |
4. |
Orderly Liquidation Value
Appraisal is the appraisers
professional opinion of what the sale price of
the asset could be if sold at a properly
advertised and professionally managed orderly
liquidation sale. |
5. |
DeskTop Opinion or Review
Appraisal is based on materials or
information that has been supplied to us and
evaluated without the benefit of an actual
on-site inspection. |
6. |
New or Used Replacement Cost
Value Appraisal is based on the dollar
amount it would cost to purchase a new or used
asset of like quality and specifications if the
asset was damaged or destroyed. |