GJ203 Appraisal Report Writing

PP/GJ203 is an appraisal report writing course providing participants with the ... Development of writing skills for an appraisal prepared for insuran...

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Principles of Valuation (POV) PP/GJ203 Appraisal Report Writing

COURSE OVERVIEW PP/GJ203 is an appraisal report writing course providing participants with the basics of written appraisal report preparation. In class, the instructor reviews the required parts of an appraisal report. Participants use the terms they acquired in PP/GJ201 and the methodology they learned in PP/GJ202 in class exercises to complete their appraisal and prepare the appraisal report for review by the instructor. Prerequisites: Successful completion of PP/GJ201 and PP/GJ202. TOPICS COVERED IN PP/GJ203 • • • • • • •

Elements of an appraisal report Analysis of market research (introduced in PP/GJ202) Appraisal report standards and requirements Approaches/methods used in the preparation of an appraisal Development of the argument for a value conclusion Development of writing skills for an appraisal prepared for insurance coverage Utilization of the Uniform Standards of Professional Appraisal Practice (USPAP) in appraisal and appraisal report preparation

CLASSROOM REQUIREMENTS Participants must bring the workfile for the property they selected and researched in PP/GJ202. The workfile should include a photograph(s) of the object, descriptive information relating to the object, and relevant market data and research. The workfile that was assembled in PP/GJ202 provides data for the completion of the appraisal. Note: Item(s) being appraised in the classroom exercise should have a replacement value of $5,000. (Lower valued items such as flatware and sets of china qualify for Residential Contents appraisers.) Additional materials helpful in class include blank CDs or flash drives to save classroom exercises and information in the appraisal workfile. Participants may bring laptops to class to work on assignments instead of using those in the computer labs. Participants also need to bring a copy of the current version of the Uniform Standards of Professional Appraisal Practice (hard copy or downloaded) to class.

ASA  PP/GJ203  

 

 

 

May  2013  

 

 

 

 

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Lastly, participants should download, print and bring to class the following IRS documents: •

Publication 526

http://www.irs.gov/pub/irs-pdf/p526.pdf



Publication 561

http://www.irs.gov/pub/irs-pdf/p561.pdf



Form 8283

http://www.irs.gov/pub/irs-pdf/f8283.pdf



Instructions for Form 8283 http://www.irs.gov/pub/irs-pdf/f8283.pdf

REQUIRED READING PRIOR TO CLASS USPAP Prior to class, participants should read the following sections: • Preamble and Definitions • The Ethics, Competency, Scope of Work, and Record Keeping Rules • Standards 7 and 8 • Statement 9 • Advisory Opinions 11, 28 and 29 Monographs All available monographs should be downloaded and read or reviewed prior to class. Note: The Monographs and current version of USPAP can be purchased on the ASA website (www.appraisers.org) by visiting the ASA Marketplace. Barnet, S. | “A Short Guide to Writing about Art” (current edition) Read the chapters on the following topics (chapter numbers vary depending on edition): Writing About Art; Writing a Comparison; How to Write an Effective Essay; Style in Writing; Writing a Research Paper; Manuscript Form This book is available through retail book dealers or by calling the publisher: Pearson Education at (800) 922-0579. SUGGESTED/ADDITIONAL READING Berger, John | Ways of Seeing London: Penguin Books, 1972. Lanmon, Dwight | Evaluating Your Collection. The 14 Points of Connoisseurship Hanover, London: Oxford University Press (Winterthur Museum), 1999. Spencer, Ronald | The Expert Versus the Object New York: Oxford University Press, 2004. For current course offerings & information, visit the ASA website: www.appraisers.org/education.

ASA  PP/GJ203  

 

 

 

May  2013  

 

 

 

 

Page  2