Appraiser

“ At the time fixed for reappraisement the collector will send to the appraiser at large and merchant appraiser the invoice or invoices of the merchandise to be examined and appraised. The store-keeper, or other officer having charge, will deliver to them the samples or packages ordered for examination, and they will proceed to examine and appraise in the manner pointed out by law. The importer or his agent will be allowed to be present, and to offer such explanations and statements as may be pertinent to the case. ”

“ Each freeholder summoned to appraise real estate under the provisions of this chapter, shall be allowed and receive for his services the sum of fifty cents for each day he may be so engaged as such appraiser, to be collected on the execution, by virtue of which the property appraised was levied on, if claimed at the time of making the return of such appraisement. ”

“ Above all, an appraiser must not be afraid of his client. He must not allow his personal judgment to be swerved by the latter's desires. It perhaps seldom if ever occurs that an appraiser, representing a municipality, or State, is subjected to this unconscious influence, inasmuch as his employer 270is merely a temporary public official, and consequently he has no client to fear. He goes into the work with a full knowledge that his employer knows little or nothing of the subject, and his only desire is to reach results which will be unquestionably fair to both parties. ”

“ Whenever there is a dispute regarding the standards applicable in the adjustment or a disagreement regarding the method by which the standards are applied, one or the other of the parties generally invokes the provisions of the policy for an appraisal. In accordance with the terms of the policy, the insurer and insured may each appoint an appraiser who in turn selects an umpire. This official does not act except when called on for a decision if the appraisers disagree on some point. The appraisers proceed to make a joint appraisement of the damage caused and the value of the loss. ”

“ To help correct this inequity, BPR late in 1956 required that appraisal and negotiation functions be separated. The appraiser would appraise the fair market value, the reviewing appraiser would review all appraisals and approve the amount to be offered the property owner, a trained and qualified negotiator would visit the property owner, explain the highway improvement and the need for the property, and present in writing the amount approved by the reviewing appraiser as the full fair market value of the property to be purchased. ”

“ As a result of these conferences, each large railway company of the State, acting through its heads of departments, made an inventory and appraisal of its own property in the State, using therefor the forms and blanks prepared by the appraiser. At the same time, the appraiser organized a considerably smaller force than was used in Michigan, made his own office and field inspection, and secured data to complete the appraisal on the small roads, in which their own engineering or operating departments were not organized so as to do the work according to plan. ”

“ Under such circumstances, the property owner was to a degree dependent on the whims of the appraiser, whose personal opinions could too easily affect the amount of his estimate. Since these value opinions usually were prepared by local men familiar with land values in the general area, they usually were surprisingly accurate. However, such unsupported opinions of value could not be accepted for Federal participation and more sophisticated procedures were required. ”

“ The merchant appraiser made an appraisement of the standard gloves at 42 francs per dozen, and of the invoice at 16,613.10 francs, which corresponded with the importer's invoice and entered valuation of the merchandise in question. The general appraiser made a report of his appraisement on the same day, in which he put the value of the standard gloves at 52 francs, and the total valuation at 20,282.85 francs. ”

“ No appraiser would be justified in placing a "going concern" value, in excess of original cost, on a new property, nor would he be justified in placing such a value on a property 3 years old, or 10 years old, unless the net earnings were such as to indicate that the property had a business or commercial value in excess of the physical property value. ”

“ APPRAISER (from Lat. appretiare, to value) , one who sets a value upon property, real or personal. In England the business of an appraiser is usually combined with that of an auctioneer, while the word itself has given place, to a great extent, to that of “valuer.” (See the articles Auctions and Auctioneers, and Valuation and Valuers.)
In the United States appraiser is a term often used to describe a person specially appointed by a judicial or quasi-judicial authority to put a valuation on property, e.g. ”

“ The act of Assembly [3] requires the appointment of an appraiser whose duty is to report his appraisement in writing to the department of revenue, which must then give immediate notice to all parties interested, and continues: 'Any person not satisfied with the appraisement * * * may appeal within thirty days to the court of common pleas of Dauphin County, on paying or giving security to pay all costs together with whatever tax shall be fixed by the court. ”

“ The local appraisers are expected to do their full duty in ascertaining, estimating, and appraising the true and actual market value or wholesale price of imported merchandise at the time of exportation, and in the principal markets of the country whence the same has been imported. When appeals are taken from the valuation so found it is expected that the general appraiser and merchant appraiser selected to act with him will reappraise the merchandise in substantially the same manner as is pursued on original appraisement. ”

“ And be it further enacted by the authority aforesaid, That in any case where the whole of any person's land may not be taken away by the plan aforesaid, the appraisers aforementioned, in estimating the sum said person shall receive, shall consider the advantage his remaining land receives, as well as the value of land taken from him by the plan aforesaid, and from a consideration of all circumstances determine the sum of money such person shall receive as aforesaid. ”

“ The merchant appraisers sustain the invoices or entered value, while you advance the value in two of the cases upwards of 20 per cent. The law requires the collector, in cases of difference, to decide between the merchant and general appraiser. I find that it has been the almost universal practice for the collector, under these circumstances, to adopt the higher valuation. ”

“ If the net assets are an important factor of valuation, an appraisal should be made either through a committee or by independent appraisers. If such an appraisal cannot be made, the books should be examined to see that the valuation of each plant and equipment is correct. Great care should be exercised to see that capital additions represent actual additions to the plant or serve to increase its capacity or lower its cost of production. The method of handling improvement expenditures should be uniform. ”

“ You now get your permit indorsed by the deputy collector and the naval officer, and take it to the inspector in charge of the vessel.
All your other papers are sent to the appraiser, with the sample goods. His examiner identifies the one by the other and he makes his estimates—a difficult and delicate task, sometimes. The changes from the invoices, either in the quantity or value of goods are noted, and the papers are returned to the collector’s office, where the work of the appraiser as to classification of goods and proper duties, to be paid is carefully revised. ”

“ This court is authorized and required to ascertain and assess the value of the land 'by appointing three competent and disinterested commissioners to appraise the value or values thereof, and to return the appraisement to the court.' The duty required of the appraisers is to appraise the value of the land, and to return to the court an appraisement not differing from their belief of its value, but in accordance with that belief. If they believe the aggregate value exceeds the amount named in the act, how can they escape the obligation to say so? ”

“ In the present case, the selection of the merchant appraiser, his oath, and the manner in which he and the general appraiser discharged their duties, were in compliance with the statute and with the treasury regulations; but it is urged that the manner of appointing the merchant appraiser was illegal. The merchant appraiser is an expert, selected as an emergency arises, upon the request of the importer for a reappraisal. ”

“ The collector of the port of New York shall not, under any circumstances, direct to be sent for examination and appraisement less than one package of every invoice, and one package at least out of every ten packages of merchandise, and a greater number should he, or the appraiser, or any assistant appraiser, deem it necessary. ”

“ The appraisers take an oath diligently and faithfully to examine and inspect such goods, wares, and merchandise as the collector may direct, and truly to report, to the best of their knowledge and belief, the true value thereof. ”

“ Mary Bell said that that was not strange, for she believed that lawyers' papers were only meant for lawyers to understand.
The appraisers came about this time to make an inventory of the property. They went all over the house and barns, and took a complete account of every thing that they found. They made a list of all the oxen, sheep, cows, horses, and other animals, putting down opposite to each one, their estimate of its value. They did the same with the vehicles, and farming implements, and utensils, and also with all the household furniture, and the provisions and stores. ”

“ Unless within fifteen days after a statement of such loss has been rendered to the company, either party, the assured or the company, shall have notified the other in writing that such party demands an appraisal, such right to an appraisal shall be waived; the appraisers together shall then estimate and appraise the loss, stating separately sound value and damage, and, failing to agree, shall submit their differences to the umpire ”

“ Market Value of Stocks and Bonds.—During the progress of the appraisal of 1900 an independent force of men was engaged in studying the market values of stocks and bonds of Michigan roads with a view to securing information on every possible line that would aid the appraiser in reaching proper conclusions, or enable him to check his figures. ”

“ When the section was amended after the Radford case, the committee reports treated the paragraph of sub. § as quoted in note 3 separately from the succeeding numbered paragraphs and the language connotes the idea that the proviso relates only to appeals from the appraisal. The comment is as follows: 'It provides that the referee, under the jurisdiction of the court, shall designate and appoint appraisers, to appraise all of the property of the debtor, at its then fair and reasonable market value. ”

“ The method to be used in placing depreciation is clearly one of the important things that must be determined by each set of appraisers, and, while the writer believes that the use of expectancy tables would greatly facilitate the work in many cases, the data on which to found a complete set of tables and to support them and justify their use are often lacking; therefore, any use of tables should be safeguarded in every possible manner, and personal inspection of fixed property should always be made. ”

“ To sell to any person, firm, partnership, corporation or other entity all or any part of any land, together with the improvements thereon, held by it as an industrial park; provided, however, that no such sale may be made for less than the reasonable market value of the property so sold, as such value may be established by the appraisals of at least two independent appraisers. ”

“ As the examinations of appraisers are made the basis of the general classification of importations for the imposition and assessment of duty, it becomes necessary that appraisers shall closely inspect the articles ordered for appraisement, and where they retain doubts concerning the quality or denomination of articles they shall submit samples thereof, with their opinions, to collectors, for transmission, in case of disagreement, to the secretary of the treasury. ”

“ The merchandise must be appraised, or bonds given by the importer in double its estimated value, before it is delivered from the custody of the officers of the customs. If the collector deems any appraisement too low, he may order a new appraisement, and may cause the duties to be charged accordingly. If the importer is dissatisfied with the appraisement, the collector must order another appraisement by two appraisers of a specified class, and, if they disagree, decide between them, and the appraisement thus determined shall be final, and duties levied accordingly. ”

“ Hood Meadows shall select an appraiser to conduct an appraisal of the Federal land and non-Federal land. (ii) REQUIREMENTS— An appraisal under clause (i) shall be conducted in accordance with nationally recognized appraisal standards, including— (I) the Uniform Appraisal Standards for Federal Land Acquisitions; and (II) the Uniform Standards of Professional Appraisal Practice. (E) SURVEYS— (i) IN GENERAL— The exact acreage and legal description of the Federal land and non-Federal land shall be determined by surveys approved by the Secretary. ”

“ Other questions went to the grounds of the decision of the revenue officers, and involved the extent, if at all, to which they might be examined in relation thereto. For instance, the general appraiser was called as a witness, and asked the following questions: 'Q. In making your report upon these several invoices, and in adding ten per cent. to the invoice value, did you or not take into consideration as a part of that ten per cent. any manufacturer's profit? ”