Retrospective appraisals are formally defined as “a value opinion effective as of a specified historical date. The term does not define a type of value. Instead, it identifies a value opinion as being effective at some specific prior date. Value as of a historical date is frequently sought in connection with property tax appeals, damage models, lease renegotiation, deficiency judgments, estate tax, and condemnation.” To determine a retrospective valuation, an appraiser follows many of the same steps as a current value appraisal, but instead they perform their evaluation using historic data relative to the time frame of the effective date of the appraisal.
The Pro Teck Difference
Pro Teck prides itself on providing a wide variety of appraisal solutions, including retrospective valuations. With Pro Teck, you will get next-level support by:
Pro Teck offers appraisal update solutions as part of its suite of residential appraisal products. To learn more about Pro Teck’s appraisal management services, contact us today.
Pro Teck offer a full suite of valuation products and services. We don't favor one solution over another - we review your requirements, your risk tolerance and all regulatory considerations in order to recommend the best solution.