Appraisal Witness: Qualified Expert

Appraisal Witness: Qualified Expert

Ipse Dixit Defines Unqualified Witness

Ipse Dixit is defined in Black’s Law Dictionary as “because I said so”. Yesterday’s appraisal witnesses are unqualified witnesses today because Judges are disqualifying the witness on qualifications! No longer can a witness say “believe me because thats the way its been done for 25 years”, or “I know because I have 25 years of experience so don’t question my value!” The CPA that comes to court as an expert appraisal witness is disqualified, the reason, ipse dixit. The auctioneer that wants to testify, “I’ve sold hundreds of those over the last 30 years and it has an auction value of $2500 will be disqualified, the reason, ipse dixit .

Years of experience is only one strong point of an accredited appraiser. To certify an appraisal that can be defended irrefutably the appraiser must apply the 2008 USPAP laws, standards and rules. Another criteria for the expert appraisal witness is that the individual apply the correct methodology including comparables, history and venue of past sales to come to a fair market value of the items appraised. Ipse dixit is far from the equation of valuation. The Judge is looking for absolute understandable format that the court can follow within all appraisals that enter litigation.

The pedigree that an expert appraisal witness has as part of his credentials needs to be from the Appraisal Foundation’s list of approved appraisal schools. Should you have a degree in agronomy, consider it as irrelevant as Certified Public Accountant and not part of your appraisal credentials and will be classified ipse dixit if testifying as an expert appraisal witness. Can you be a CPA and an accredited appraiser? Absolutely, if you have completed approved appraisal education courses and have valuation experience and complete an appraisal according to USPAP Standards and Rules.

Durkin Valation Associates meet all the criteria of the law, educational institutes and the court to appraise and testify as an expert witness. We have testified in numerous cases where the opposing “appraiser” was disqualified; primary reason, Ipse Dixit. The laws have changed for appraiser qualifications… don’t find out after you arrive at the deposition or court. Hire the best, call for questions, Durkin Valuation Associates.

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