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Best practices for appraising for litigation purposes
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As appraisers strive to diversify their professional opportunities and maximize their earning potential, many have turned to litigation work to supplement their workload.
Eminent domain work is frequently the type of assignment that draws appraisers into the legal realm, but there are other types of assignments that routinely require the expertise of appraisers: environmental contamination proceedings, ad valorem tax assessments, construction defects, diminution in value cases, bankruptcies, fraud and misrepresentation cases, estate tax filings and divorce work.
Although the need to accurately assess value is still the top priority in the courtroom, appraisers also must know how to work with attorneys and comport themselves during testimony and cross examination. In short, litigation work takes a skill set that can be vastly different from what is required for mortgage lending assignments.
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