APPRAISAL REPORTS
An Appraisal Report is a legal document that accurately describes & values your property. A properly prepared Appraisal Report will include a value conclusion that will clarify questions of value under any circumstances. It should be a cohesive, logical, readable document that accomplishes its intended use with precision & technical accuracy.
An Appraisal Report is often necessary for scheduling individual items with your insurance company or when property is being transferred (charitable contribution, estate taxes & planning, or equitable distribution).
For property being transferred, an Appraisal Report provides a cost basis for the new owner. The cost basis of an object is the value of an object when the person acquired it. When an object is passed from one person to the next without an Appraisal Report & the proper tax documentation, the cost basis is zero.
Spalding Nix is available for executing Appraisal Reports on an hourly basis at $125 per hour. Expect a professional appraiser to spend at least one hour researching & preparing an Appraisal Report for each hour spent evaluating & documenting the item(s).
All Appraisal Reports for INSURANCE COVERAGE purposes require a three (3) hour minimum charge of $375.
All Appraisal Reports for CHARITABLE CONTRIBUTION/DONATIONS/GIFT TAXES require a five (5) hour minimum charge of $625.
Spalding Nix's written appraisals conform to the standards of the Uniform Standards of Professional Appraisal Practice (USPAP) established by the Appraisal Foundation as well as the technical & ethical requirements of American Society of Appraisers.
Please contact Spalding Nix at (404) 841-7777 to schedule an appointment.