Appraisal Group of America Inc. is licensed in North Carolina

Recently, North Carolina has mandated that automobile appraisers become licensed to complete Diminished Value and Total Loss Appraisals. Appraisal Group of America Inc. became licensed to complete Diminished Value and total loss appraisals in 2008 in North Carolina.

When an individual is in an accident and the loss is greater than 25% of the value of the vehicle, North Carolina Damage Disclosure Statue 20-71.4 states that any such damage must be disclosed to the potential buyer… Why this is important is that potentially the individual is entitled to a diminished value check. Also, even if the wreck is less substantial the individual will have significant legal exposure if the individual re-sells the vehicle and does not disclose the prior damage to the new vehicle owner, if the new owner asks about previous damage. Also, the following case law is pertinent to North Carolina:

• In Parker v. Hensley, 625 S.E.2d 182 (N.C.App. 02/07/2006) in a case arguing about an award of attorneys fees allowed for recovery of diminution in value of the vehicle in question.
• In Pierce v. American Fidelity Fire Insurance Co., 240 N.C. 567, 83 S.E.2d 493 (N.C. 09/22/1954) the Supreme Court of North Carolina found that the measure of damages is the fair market value of the car immediately before the collision and the fair market value after the accident.

A large part of the North Carolina population is unaware they are entitled to a diminished value check in addition to the repairs on their vehicle. Appraisal Group of America Inc. is a professional Automobile Appraisal Company and call today at 877-655-1661 to see if you qualify for a diminished value check.