Appraisal Basics

An appraisal of real estate is the valuation of the rights of ownership. The appraiser must define the rights he intends to appraise.

The appraiser does not create value, the appraiser interprets the market to arrive at a value estimate. As the appraiser compiles data pertinent to a report, consideration must be given to the site and amenities as well as the physical condition of the property. An appraiser may spend only a short time inspecting
the property, however, this is only the beginning.

Considerable research and collection of general and specific data must be accomplished before the appraiser can arrive at a final opinion of value. Due to the many types of value, such as Fair Market Value, Insurance Value, Tax Value and Value In Use, the need to precisely define the purpose of the appraisal
is essential.
                    

Appraisal Methods

When To Order An Appraisal

Appraisal To Establish Home Market Price

Appraisal Needed To Obtain Loan

Helping The Appraiser