I respectfully disagree, because what got lost in the entire thread was the appraiser forgot that the client was the Estate and the intended user will also be the Internal Revenue Service. In this situation, the accountant will file the estates final tax return to close it out. So when the appraiser receives the assignment the client will normally communicate what the appraisal will be used for. The appraiser had to begin taking the steps to determine if the scope of work will provide the Client and the ( IRS ) with credible results. The highest and best use analysis was never an-issue with me because those conclusions are reported in all appraisals. But the value for estate tax purposes is not predicated on any future hypothetical assumptions, which may never even happen. ** Please See IRS Qualified Appraisal Release Below : June-2019.
A Qualified appraisal refers to a type of appraisal document that meets Internal Revenue Service (IRS) appraisal standards. These appraisals must be conducted by a qualified appraiser ... This designation is awarded on the basis of demonstrated competence in valuing the type of property for which the appraisal is performed. Jun 25, 2019
Note: This appears to deal mainly with donations, but some of the accountants and estate attorneys are already starting to use only Appraisal Institute members, what's confusing is nobody seems to know which organizations qualify, other than the AI & ASA .
In Summary: I realize I was to harsh with the original poster because she simply came on board to get assistance but the thread went from H & B to prospective "V" Retrospective, and finally I came to the opinion that, if I could help prevent-the forumite from stepping on a land mine, then I would rather have her hate me then end up dealing with some potentially litigious attorney. The bottom line is I am confident the appraiser will make the right decision.
LOL