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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. The location also plays a key role in valuation.
Using this information, the appraiser will then complete an appraisal report with their estimate of the home’s current market value. The lender then uses this sum in determining the amount of ...
An appraiser (from Latin appretiare, "to value") is a person that develops an opinion of the market value or other value of a product, most notably real estate.. The current definition of "appraiser" according to the Uniform Standards of Professional Appraisal Practice (USPAP) is: "One who is expected to perform valuation services competently and in a manner that is independent, impartial and ...
“A homeowner can ask the appraiser what would help them the most when they are at the property,” says Lisa Desmarais, vice president of Appraisal Issues at the Appraisal Foundation, a ...
A broker's price opinion (BPO) is a report that is performed by a licensed real estate agent, broker. or appraiser. A BPO is an informal appraisal. It is similar to doing a CMA (Comparative Market Analysis) but most times the real estate professional gets paid to do a BPO. A BPO can be either an exterior drive-by or a full interior report.
We do not want anybody feeling they're being property taxed out of their home. That's not what this process is intended to do. But it's something we have heard consistently a fear about for the ...
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