Real Estate Appraisals
Establishing the value of property is the job of the real estate appraiser in the US and of the property valuer or land valuer in the UK. Many localities require that real estate appraisers be certified or licensed, but this is not standardized. Real estate appraisals attempt to normalize the market value of property based on location, property … Keep Reading → size, amenities, proximity to services, and surrounding property values among other criteria. Other property valuations might be needed consistent with the type of property including value-in use, investment value, insurable value and liquidation (or foreclosure) value. Appraisals of commercial property also factor in potential income production. US appraisal reports often follow the standardized Uniform Residential Appraisal Report format with narrative text for comments and non-standard situations. Increase your knowledge of the appraisal process from these informative Hubs.
