What is an Appraisal?
Navigating Appraisals: Understanding their Importance
Picture the value: An appraisal isn’t just about assessing worth; it’s about securing your vehicle’s past, present, and future value.
But why the need for appraisal? Various reasons drive this necessity, from insurance coverage to estate planning or navigating a sale or purchase. Owning a collectible vehicle demands a reliable, up-to-date appraisal, a service we proudly offer. Our assessments align meticulously with the Uniform Standards of Professional Appraisal Practice (USPAP), ensuring credibility and compliance.
No more misconceptions—your report is backed by extensive formal training and expertise, delivered through the American Society of Appraisers, ensuring a robust, USPAP-compliant document.
The Professional Appraisal Difference
Your Appraisal Start to Finish
Listen To Your Needs
When you first contact GTS, LLC. we will fully discuss your appraisal needs and together, figure out what it is you’re trying to accomplish. Some specific questions will be asked to help determine the “scope of work” that is required to complete the project.
Appraisal Contract
A contract is then written explaining the “scope of work” in more detail that includes information such as the appraisers’ necessities, clients’ expectations, inspection date, inspection location, and fees.
Inspection Process
Upon approval, we will go to the location on the pre-determined date. On arrival, we thoroughly document its condition, and properly photograph it for the report.
This is also a good time to give the appraiser copies of any documentation that you may think will help the process along. Copies of receipts, restoration service documents, ownership history, or anything else you think is important may be helpful and will be put in the vehicle’s work file. In rare circumstances, if a physical inspection is not possible, the client will need to provide current photographs which will be used in developing the overall condition of the vehicle(s). This will then be utilized to develop a description of the subject vehicle(s) for the USPAP-compliant report.
Finalized Report Delivery
After inspection, the valuation process begins and you will be contacted directly when the USPAP-compliant appraisal report is completed. The completed report will be promptly delivered after all invoices are paid in full. We answer any questions about the report and help you understand the full document.