appraisal purpose

the appraiser must identify and define the specific value sought, the purpose of the appraisal, in the appraisal assignment. The value sought will influence the selection of the relevant data.

Market value is the typical purpose of an appraisal but an appraiser must determine in the first step of the appraisal process if client might need any other purpose. Value could be needed for insurance purposes, liquidation or some other need.

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