Services

In the Chicagoland area, we service all of Cook, Lake, DuPage, Will, Kane and McHenry Counties. In Arizona, we service the entirety of Maricopa County and parts of Pinal County

• What is the purpose of the report?
• What is the intended use of the appraisal?

To prepare for your appraisal:

• Which items are involved, and what is their location?
• Gather documentation. This may include sales receipts, certificates, past appraisals, letters, or other authentication.
• Have items ready, unlocked, and available. If items are part of a set, like candlesticks or silverware, have them grouped together.
• Clean the items. To ensure an accurate inspection and successful photography, it is important to remove any dust or dirt that may be obscuring the item.
• For an appraisal involving furniture, if possible, pull it away from the wall to allow better inspection.What is the level of documentation required?

  To prepare for your appraisal:

An appraisal that is done thoroughly and without interruption helps both the client and the appraiser.

Examination: The appraiser examines all the property to be included in the final report, noting and evaluating characteristics, conditions, and measurements of most items.

Photographs: Digital images are taken to document the item’s existence and aid in research. These photographs are included in the final report.

Research: Each item is studied and researched to determine its value based upon comparable sales and histories. Research time may include identification of marks, labels, dates, and locations; analysis of comparable items; market research; and expert consultation.

Reporting: The final report from GOLDWEIGHT Appraisal & Estate Consultants consists of a copy of the completed appraisal along with the appraiser’s qualifications, purpose, and basis of appraisal. The typical report includes the inventory, market research, valuation, and necessary comments pertinent to the property. Each item or group of items has a description, age (if appropriate), measurements, condition, value, and photograph. All GOLDWEIGHT Appraisal reports are compliant with the Uniform Standards of Professional Appraisal Practice (USPAP).

GOLDWEIGHT Appraisal & Estate Consultants specialize in several types of appraisals, including the following:

• Insurance appraisals provide necessary documentation to substantiate the existence, condition, and replacement value of your belongings. It is wise to have an update done every five years or ahead of any pending household move.
• Estate appraisals are necessary for taxable estates. This appraisal includes an efficient catalog of property that meets IRS requirements, but without the level of detail normally provided for an insurance appraisal.
• Donation appraisals are suggested by the IRS to substantiate a tax deduction above $1000. Donation appraisals are REQUIRED for anything above $5000 that has been given to a charitable institution. GOLDWEIGHT Appraisal’s advice: When in doubt, appraise.
• Pre-move appraisals provide an inventory of your high value items to substantiate both their value and existence. Due to the limited level of protection provided by moving companies to account for damage or loss, these appraisals will help you to purchase additional insurance and recover any damages incurred during the move.
• Equitable distribution appraisals help settle divorces or estates for fair distribution of property based on fair market value.
• Trust or will inventory appraisals will be attached to the trust or will, and a copy will be given to the trust attorney. They will now have knowledge of your property, and with your comments on the report, they will know who is to inherit which items.

For additional information about what is involved for each of these appraisals, please check out our Services page.

Full appraisal services should only be conducted by educated and nationally certified appraisal experts. That expert will provide you with a formal written and descriptive report, complete with photos, and they should be willing to defend their assessment in court. The report should include any limiting or qualifying conditions, the appraiser’s qualifications, a complete and accurate description of the items, market analysis, markets selected, and well-defined value conclusions.

An appraisal is a professional assessment of property to determine fair market value. Assessments are most often used for tax and insurance purposes or in estate planning or wills.