Did you know the term “Market Value” has been removed from Standards 7 and 8?
Yup! The 2018-2019 version of USPAP has eliminated that term from Standards 7 & 8.
Leon Castner, USPAP instructor and Senior Partner at National Appraisal Consultants, suggests you review these standards and reminds us:
“In personal property valuation, ‘market value’ is usually further defined or explained ore accurately; i.e. orderly liquidaton, fair market value, etc., depending on the intended use of an appraisal.”
So take a look at your 2018-2019 USPAP Manual and make certain all your reports comply with thes standards.
If for some reason you haven’t taken your 2018-2019 USPAP 7-hour update, or the 15-hour, you’re in luck.
Leon is running a 7-hour update webinar on May 20th, and a 15-hour webinar program on June 5th & 6th. Make sure you’re up to date!
Learn more at: www.USPAP7.com
Or give Brian Kathenes a call at: (800) 323-5996
Hope you can join us!
Stay well & happy!
National Appraisal Consultants, LLC
P.O. Box 482
Hope, NJ 07844