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A professional appraiser or real estate agent, however, can visit the home in person, assess the neighborhood as a whole as well as the individual property, perform more thorough market research ...
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 ...
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 ...
[2] [1] Through BPOs, real estate professionals can improve their skills in property inspection, market knowledge, evaluation, and property pricing. [6] At a price of US$30–$100 per BPO, [ 5 ] the work can provide side income or steady income for real estate agents. [ 1 ]
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.
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 ...
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