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Real estate appraisal, property valuation or land valuation is the process of assessing the value of real property (usually market value). Real estate transactions often require appraisals because every property has unique characteristics.
A broker price opinion (BPO) is a real estate professional’s dollar estimate of a property’s worth. It is an opinion, but one often backed up by the selling prices of comparable homes in ...
A real estate agent or a broker is hired to complete a BPO report on a property. A BPO may be occasionally requested without a fee in hopes that the financial institution, bank, or lender will receive a sales listing for the property. [1] The BPO professional then conducts the investigation. Many factors affect the price of a property:
The sales comparison approach (SCA) is a real estate appraisal valuation method that relies on the assumption that a matrix of attributes or significant features of a property drive its value. For examples, in the case of a single family residence, such attributes might be floor area, views, location, number of bathrooms, lot size, age of the ...
The price will depend on the level of demand in your area, how far the appraiser has to travel and the size of the house and lot. The homebuyer typically assumes this cost, and it may be folded ...
Here, we break down some of the major differences between a home appraisal vs. a home inspection. What is a home appraisal? An appraisal is a process used to determine the value of a home. Usually ...
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