Sadly, this word is slowly returning to our daily vocabulary. If you are a lender, work-out officer or attorney, you know that an appraisal report is not simply another document -- it is a vital tool. The report guides you and the Auctioneer in establishing the auction strategy.

First and foremost, the estimate of value must be accurate. In fact, in a foreclosure, the accuracy of an appraiser's opinion and description may be known within days of the completion of the report. The discussion should accurately address marketing issues, supply and oversupply, demand or lack thereof and the specifics of any conditions impacting the subject property. Finally, the report must be delivered on time. Occasionally circumstances require a very short turnaround time. Your appraiser should understand these realities.

Sometimes, it may not be possible to access the property. Your appraiser must have the perseverance to uncover as many facts as possible and have the skills to make accurate and reasonable assumptions. In some scenarios, court testimony, review of other appraisals or litigation support may be required of your appraiser, and often with short notice.

Sargent Consulting understands the added challenges posed by the foreclosure scenario. Based upon his extensive involvement with foreclosures in the early 1990s, Steven has the vital knowledge and experience that this type of work demands. If it becomes necessary to foreclose, your appraiser should be Steven Berg, of Sargent Consulting, Ltd.