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Rebuttals and Appraisal Reviews

September 4, 2013

If you’re not part of the appraisal world, you might not be aware that an appraiser’s word is not necessarily gospel. An appraisal, by its very nature, is supposed to be fair, impartial, and unbiased. But even if it is, that doesn’t mean that everyone’s going to agree with it.

Clients who have an appraisal performed are well within their rights to request an appraisal review. If the reviewer brings up issues that the appraiser doesn’t agree with, the appraiser is often asked to provide a written rebuttal to explain why they believe they’re correct.

In defending the appraisal, there’s sometimes concern that the appraiser would be, at least indirectly, offering an opinion on the quality of another appraiser’s work that was performed as part of an appraisal review, or that in the rebuttal the appraiser may not be able to be objective and unbiased, since they have an interest in defending the original appraisal.

According to USPAP, an appraiser can defend (or explain) his or her appraisal, as long as they don’t offer an opinion on the quality of another’s work. A rebuttal where an appraiser simply provides additional rationale or support for his or her analyses, opinions, and conclusions is an acceptable practice.

The NEBB Institute endorses and strives to observe the highest standards of professional ethics to preserve the public trust inherent in the professional appraisal practice. The Institute provides initial and monthly comprehensive education, ongoing support, and a dynamic international network, and certifies professionals in the art of machinery/equipment appraisal and brokerage.

By: NEBB Institute

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