The purpose of the RCS is to determine market rents for each unit type in the subject property. This is achieved by selecting comparable market-rate properties and making detailed adjustments to the rents based on the differences between the subject property and the comparable properties.
Starmark is an approved vendor for a long list of lenders and state housing agencies throughout the country.
Appraisers are routinely engaged as expert witnesses in real property tax assessment contests where property valuations are the primary issue. Knowledgeable and experienced appraisers use appraisal practices and procedures to analyze data and develop and report opinions of value accordingly. Tax authorities or judges receive appraiser testimony and review appraisal reports, often asking appraisers questions about items contained within appraisal reports. An appropriately developed and well-written appraisal report, testified to by a knowledgeable expert, is often an essential part of a successful assessment challenge.
We perform work for government clients needing to offer and provide “just” compensation in eminent domain cases. A USPAP-compliant appraisal is the best way to determine fair market value of any property.
Intangible asset valuation analysts are often called on to perform fair market value valuations of real estate undivided ownership interests (also called fractional ownership interests). Many of these real estate undivided interests are owned by holding companies
or by high net worth individuals. Accordingly, those real estate fractional ownership interests may need to be valued for federal gift or estate tax compliance purposes or for intergenerational wealth transfer and estate planning purposes.
The need for qualified valuation appraisal is generally needed to prepare IRS gift tax Form 709 and to meet adequate disclosure requirements. It is also needed for all illiquid assets made as charitable donations in excess of $5,000 and the appraiser must sign IRS noncash charitable contribution Form 8283. For an estate, a qualified valuation appraisal is likely required to complete Schedule F of IRS estate tax Form 706 if there are non-publicly traded assets.
Under ASC 805, business combinations must be accounted for using the acquisition method of accounting. Under the acquisition method of accounting, all identifiable assets acquired, including goodwill, liabilities assumed, and any non-controlling interests, should be stated on the balance sheet at fair value.
The purpose of the PPA is to help you identify all the assets that were acquired, tangible and intangible, and the liabilities that were assumed, and recognize them at fair value.
Aside from working with a tax specialist and legal team to put the right plans in place to navigate these potential changes, undergoing an appraisal for trust and estate matters is key to saving tax dollars for your gift or estate tax situation. It establishes the baseline values for the assets with which you’re working by defining:
Description of the property
Physical condition of the property
Terms of any agreement or understanding which restricts the donee’s use or disposal of the property
Appraised fair market value of the property on the date (or expected date) of contribution
Method of valuation used to determine the fair market value
Specific basis for the valuation, such as comparable sales
Description of the fee arrangement between the donor and appraiser
Starmark can serve as appraisal & valuation expert witnesses and consultants to form expert opinions, draft expert witness reports, and provide expert witness testimony at deposition and trial. The issues and subjects these appraisal & valuation expert witnesses testify regarding may include: Business Valuation, Economic Damages, Appraisal & Valuation, Forensic Accounting, Lost Profits, Appraisal, Bankruptcy, Damages, Family Law, Fraud, Licensing, Valuation, Appraisal Review, Business Interruption, and Construction.
As an attorney handling a divorce, your needs oftentimes include an appraisal to establish fair market value for the residential real estate involved. Often the divorce date differs from the date you order the appraisal. We are familiar with the procedures and requirements necessary to perform a retroactive appraisal with an effective date and Fair Market Value estimate matching the date of divorce. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the fullest degree of discretion.
Our experienced appraisers and specialists provide valuation services for personal, corporate and institutional portfolios in addition to advising on the acquisition and disposal of individual assets.
These services express environmental damages in terms of monetary value in an effective way for local municipalities and governing bodies. The valuation helps in understanding the amount of damages done to the system and can be used for the application of the polluter.