We offer commercial and certain residential valuation services to financial institutions, businesses, developers, government agencies, financial planners, estate planning professionals and individuals. All valuation services are compliant and prepared in accordance with the most recent issue of Uniform Standards of Professional Appraisal Practice (USPAP) as set forth by the Appraisal Standards Board (ASB). All Wilson Valuation appraisers are members or affiliates with the Appraisal Institute.
An appraisal is a professional appraiser's opinion of value. The preparation of an appraisal involves research into appropriate market areas; the assembly and analysis of information pertinent to a property; and the knowledge, experience, and professional judgment of the appraiser. Appraisals are typically required whenever real property is sold, mortgaged, taxed, insured, or developed. For example, appraisals are prepared for mortgage lending purposes, tax assessment and appeals of assessment, negotiation between buyers and sellers government acquisition of private property for public use, business mergers or dissolutions, lease negotiations and more.
In common usage, the term review means to examine or critique. In appraisal practice, appraisal review has a very specific meaning. An appraisal review is an opinion about the quality of another appraiser's work, where that work involved an appraisal or appraisal review (se Standard 3 of USPAP). Appraisal review is a valuation-related service that many different types of clients may need. The extent and nature of a review is a scope of work decision reached jointly by the appraiser and the client. There are distinct best practices and professional standards that apply when an appraiser provides this type of service.
The subject of the appraisal review should be all or part of an appraisal report or appraisal review report. It could be an oral appraisal report or oral appraisal review report as well. All or part of the appraiser's workfile could be the subject of the appraisal review, either in conjunction with or in addition to a written or oral appraisal report.
Most often, the subject of the appraisal review is an appraisal report prepared by another appraiser. When that is the case, the appraisal review may or may not include an opinion about the appraiser's value conclusion.
Source: The Appraisal of Real Estate
Most work performed by professional appraisers involves developing some type of value opinion, i.e., an appraisal. However, because of their expertise, appraisers may be called upon to provide related services that do not involve appraisal. These services – loosely referred to as "consulting" – range from simply providing market data to providing advice or a recommendation such as whether to invest in a property or whether the contemplated design of a project conforms to market tastes.
Consulting is a generic term that encompasses a broad variety of services, and the term should be used with care. Any service provided by an appraiser – including valuation – could be classified as consulting according to common dictionary definitions. To avoid being misleading, consulting should be used only in conjunction with a modifier or description of the type of consulting being discussed. If the client expects the hired to have valuation expertise and to provide the service in an unbiased, objective manner, that individual is acting as an appraiser and professional standards apply regardless of whether the service includes a valuation. An appraiser must remain unbiased and objective even if the service does not involve valuation. A appraiser may be an advocate only for his or her professionally developed opinions and conclusions, whatever the client's objectives.
Source: The Appraisal of Real Estate
Due Diligence for Acquisition of Disposition
Our primary market area is the Memphis, MSA and outlying areas of North Mississippi. In addition to the Memphis, MSA, we service select markets throughout the Southeastern United States for specific property types. A summary of counties serviced in Mississippi and Tennessee is provided below.