What is a Certified Vehicle Appraisal?
A Certified Appraisal is one in which the facts and procedures outlined in the appraisal are attested to as being true and correct by virtue of the report being signed by an authorized person.
This sounds a little complicated, so allow us to explain in more detail and in language which you will understand. An appraisal becomes a Certified Appraisal when the person who wrote it adds his signature, thus certifying the document.
Not all Certified Appraisals are Alike!
Now the rub occurs with the qualifications of the person who certifies the appraisal. Was he or she a qualified appraiser? According to IRS regulations, to be a qualified appraiser, one must:
- Have earned an appraisal designation from a recognized professional appraisal organization for demonstrated competency in valuing the type of property being appraised
- Has met certain minimum education and experience requirements
- Regularly prepares appraisals for which he/she is paid
- The individual demonstrates verifiable education and experience in valuing the type of property being appraised
All appraisals done byReady2Appraise are reviewed for accuracy and certified by one of our Qualified Appraisers for accuracy and completeness. Our Qualified Appraisers are recognized by the International Automobile Appraisers Association (IAAA) and have passed stringent testing and continuing education programs in the application of the Uniform Standards for Automotive Appraisal Procedure (USAAP).
What About a Licensed Appraiser?
Some states require that an appraiser must be licensed to operate in their particular state. Depending on the state, this is nothing more than paying the fee to become registered. This in most cases does not demonstrate the qualifications or skill of an appraiser! Look for an appraiser who is professionally recognized by a national organization like the IAAA.