RETROSPECTIVE APPRAISAL / HISTORICAL APPRAISAL
A Retrospective Appraisal, also known as a Historical Appraisal or Retrospective Valuation, is a type of appraisal conducted to determine a property’s value as of a specific date in the past. It is typically used in situations where the value of a property at a certain point in time is needed for legal or financial purposes, such as in eminent domain cases, insurance claims, or historical preservation projects.
A Retrospective Appraisal provides an opinion of value with an Effective Date in the past. It is often used in connection with Appraisal Expert-Witness testimony and requires highly-trained—highly-skilled—highly-credentialed discipline-specific and multidisciplinary appraisers with decades of experience that are specifically trained and accredited in providing Retrospective Appraisals and in developing and reporting differing opinions-of-value, rebuttal appraisals, and appraisal expert-witness testimony.
EDS pioneered the appraisal review profession—a cornerstone of Retrospective Appraisal Expert-Witness testimony—and directed the development, writing, and implementation of the appraisal review Principals of Valuation and best practices that are taught to and in use today by professional valuers, legal experts, and government agencies throughout the world. Our Retrospective Appraisal services have allowed our clients to prevail in billions of dollars at issue, and our appraisals have been cited by U.S. regulators as “The measure by which all appraisal reviews should be judged”.
We hold the only Royal Institution of Chartered Surveyors (RICS) Expert Witness Accreditation Service (EWAS) and Dispute Resolution Service (DRS) Certifications in the United States and all of the Americas—one of only a handful of such Appraisal Expert Witness and Appraisal Dispute Resolution Certifications in the world.
EDS holds the only RICS Expert Witness Accreditation Service (EWAS) and Dispute Resolution Service (DRS) Certifications
in the Western Hemisphere—one of only a handful of such Certifications in the world.
EDS is an Elite-Rated member of the peer-voted Super Appraisers® Global Network of internationally-recognized appraisal luminaries.
The retrospective appraiser will use research and analysis of past market data, including sales of similar properties, and economic conditions at the time of the appraisal, to determine the value of the property as of the date in question. The appraiser will also consider the condition of the property, any physical changes that have occurred, and any other relevant factors that would have affected the value at that time.
Retrospective appraisals can be challenging as they require the appraiser to have a thorough understanding of historical market conditions and trends, as well as the ability to research and analyze historical data. The appraiser will typically have to consider the availability and reliability of historical data, which can be limited, and may need to make some assumptions or estimates in order to complete the appraisal.
Retrospective appraisals are important in some legal cases where the property value at a specific point in time is needed for the decision-making process, such as in eminent domain cases, insurance claims, and historical preservation projects.
Our discipline-specific and multidisciplinary Retrospective Appraisers are internationally accredited ASA/MAI/RICS appraisal instructors—all well-published luminaries in the global valuation community. They include Uniform Standards of Professional Appraisal Practice (USPAP) and International Valuation Standards (IVS) and RICS ‘Red Book’ instructors, Value Adjustment Board (VAB) Magistrates, and former state and federal appraisal regulatory compliance officers.
We provide Retrospective Appraisals in all disciplines of appraisal e.g., Real Property, Business Valuation, Intellectual Property, Personal Property, and Machinery and Technical Services to clients throughout the world. EDS specializes in providing appraisal expert-witness testimony and litigation-support services to attorneys and law firms and appraisal-related Alternative Dispute Resolution (ADR) services as Appraisal Umpire, and in Arbitration, Mediation, and as Referee.
Our Retrospective Appraisals are independent and objective and render credible findings that will withstand challenges and scrutiny from peer reviews, and regulatory, judicial, and taxing authorities.
Engaging the correct Retrospective Appraiser is critical. EDS’ unparalleled level of Retrospective Appraisal and appraisal expert witness expertise is recognized and appreciated in boardrooms and courtrooms throughout the world. We would welcome the opportunity to bring this level of appraisal expertise to you.