Appraisal
An appraiser’s job is to determine the current value of a property for the potential buyer/seller. Most of the work to determine the value of a real estate appraisal is done during an on-site inspection, where the appraiser will:
Conduct a room-by-room walk-through to appraise the condition of the interior walk the length of the real estate property for an appraisal of the condition of the exterior.
Appraise the value of any amenities, such as a swimming pool, finished basement, or built-in bar
Note any health or safety code violations for the appraisal report
Record the layout of the property, inspect the square footage, and determine whether it’s a single-family dwelling the appraiser may also evaluate the current real estate market, considering comparable properties in the neighborhood, to help evaluate the home’s value or fair market value of the property.
A home appraiser will use the Uniform Residential Appraisal Report (URAR) or other type of reports when evaluating the property to submits his/her report
If you’re buying commercial real estate, a property appraiser may conduct a business valuation to determine market value in much the same way using Cost or Income Approach.
Single Family Residence (SFR & 2-4 Unites) Condominiums and Town-homes Mobile Homes Legal Appraisal (Divorce, Probate), Estates, Inheritance, Bankruptcy, Selling, Buying, Financing, Division of property between family members and taxation purpose.
And keep the content below Commercial Appraisal:
We appraise the following property types. Vacant Lots and Acreage, Industrial Buildings, Office Buildings, Retail Buildings including Regional Malls, Medical Buildings, and Large Apartment Complexes and Agricultural property for the following purposes:
Estates, Inheritance, Bankruptcy, Divorce, Selling, Buying, Financing. Commercial Real Estate valuation, Division of property between family members and taxation purpose, Special purpose,Estate, Litigation, Estate gift Valuation and Commercial Valuation property damage appraisers.
The data the appraiser collects and analyzes is the most important part of the commercial appraisal. This includes public ownership history and zoning records. It also requires analysis of demographic and lifestyle information for the area. An appraiser must take each of these factors into account when determining the value of the commercial property.
Commercial Appraisal
We appraise the following property types. Vacant Lots and Acreage, Industrial Buildings, Office Buildings, Retail Buildings including Regional Malls, Medical Buildings, and Large Apartment Complexes and Agricultural property for the following purposes:
Estates, Inheritance, Bankruptcy, Divorce, Selling, Buying, Financing. Commercial Real Estate valuation, Division of property between family members and taxation purpose, Special purpose,Estate, Litigation, Estate gift Valuation and Commercial Valuation property damage appraisers.
The data the appraiser collects and analyzes is the most important part of the commercial appraisal. This includes public ownership history and zoning records. It also requires analysis of demographic and lifestyle information for the area. An appraiser must take each of these factors into account when determining the value of the commercial property.
When a customer requests an commercial appraisal, there are three types of reports we might choose. The first is a “Restricted Use Report.” This is the shortest and least expensive option. The catch is that it is only useful to the client who ordered the appraisal. This type of report is not thorough enough to use for the sale of the property or taxation purposes.
2nd, “Summary Report.” This report summarizes the data and analysis but does not go into full detail. This is the most common type of appraisal and is common for sales, estate valuation and taxation.
And 3rd, “Self-Contained Report.” This report contains all the details of the data and analysis in full.
As you can see, there is a great deal of knowledge required for both an agricultural land appraisal and commercial appraisals. Both types of appraisals have unique aspects that require specialized education and training. It is important to hire an appraiser who is not only qualified but who specializes in the type of appraisal you need.
Have more questions about an agricultural land appraisal or commercial appraisal? Contact our team of certified and Experience Brokers, Appraisers, Professional Engineers (PE) and More!
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