#diminished value assesment

[diminishedvalueappraisal-blog]

The Scary Truth About Diminished Value Appraisers

In short diminished value appraisals are not a state licensed market. So why do many say they are certified appraisers? This is the even worat news, no experience individuals can pay a membership to an association, pay an exam and get a worthless certificate or better yet open a corporation and say it is an association for apprasers or diminished value. Now what protection do consumers actually have then? They are only protected with individuls that are state certified adjusters or damage appraisers. We are 50 state licensed adjusters with full state certification in car financing, warranty, auction wholesale and dealer retail sales. What difference does it make you ask? When you go to court or when the insurance company asks it is thr only thing that will make or break your diminished value evaluation. An expert is a person experienced in the field they are working in and have atleast 10,0000 hours of experience in the field. We prepare court declarations if needed and can even serve as an expert witness which most dv companies wont because of the fraud they comit when they sell you a report but unless the report is a minimum of $100 it does not fall under consumer fraud statutory guidlines.

[diminishedvalueappraisal-blog]

The Diminished Value Report and Why You Need It?

The first question that comes to mind when looking into getting a professionally prepared report is why do I need one? The answer should be easy but must people don't like easy and complicate their lives. A car owner alike a dealer is biased and not an expert, a car dealer's primary purpose is to make as much money as possible and pay ypu as little as you are willing to accept and you the car owner are emotional and either get mad or have looked online at Naaa, Kelly blue book or even edmunds and thinks they know the real value of their car. First off 90% of dealers use Black Book which is not free or available to consumers and secondly carfax is used by individuals the insurance copany uses CLUE database and most car dealers use Autocheck not Carfax. So there are many things to take into account when performing a diminished value report appraisal which is one big factor, you are not an expert and the insurance company eithet wants to deny your claim or pay you a 17c formula, worse yet is when they come up with a random number from $1.00-500.0 and say that is the maximum they will pay. Unless you have an expert repirt with a signature and i'm not talking about an instant report for $14.99. I am talking about a USPAP compliant, Daubert Standard, IRS approved diminished value appraisal you have no legal proof in the eyes of the insurance company or the law.

I will give you a couple examples with 17c and with non 17c simply using NADA as a book value. I just appraised a Porsche 1986 collectable Targa top valued at $45,000. The car had structural damage and according to 17c the car would have dv of $4,500.00/NADA book appraisal would put it at $10,000.00 but the actual dv was 28,000.00 Now on a new Toyota Camary with Moderate damage it would be something like this. 17c $200.00 / Nada $750 and actual market valuation of dv is about $2,500 So you see diminished value is not something to be played with it is thousands of dollars for a simple mistake or assumption.