A real estate appraiser is hired
to evaluate the value of a property for sale. They are also known as land or
property surveyors as they survey and evaluate the data concerning the property
for sale. The values given or recommended by a real estate appraiser is usually
based from the market value. A property for sale is also given a property value
which is assumed at the best and highest possible value of the property. In
some countries, like the United States, the evaluations of a real estate
appraiser are based on a standardized report.
A property for sale can be
evaluated based on the type of value the real estate appraiser may find
appropriate. The market value is the value of the property for sale based on
the standards of an open market or on a fair value. Value-in-use, on the other
hand, is a type of value which calculates the cash generation of an asset that
is provided to a specific merchant or owner. The investment value is the
property value recommended by a real estate appraiser based on a specific
investment. This can be higher or lower than the market value because it
targets the value from a prospective owner or investor. When a property has an
insurance policy, the value surveyed by a real estate appraiser usually does
not include the site value. This type of value is called the insurable value.
Now, knowing these types of values, a real estate appraiser should be properly
hired.
Looking for the best real estate
appraiser can be tough. You can start by scouting as many appraisers as you
can. Once you have their contact details, you can talk to all of them and gage
how well do they know real estate and the appraisal of a property for sale.
When you talk to them, don’t be afraid to ask questions. You can use your prior
knowledge on value to slightly intimidate them and subtly tell them that you
will not be fooled. A copy of their credentials will also be a great help. A
real estate appraiser with good credentials will help you assure that they know
what they are doing. Lastly, you should also learn and study the government and
state laws. By doing this, you will not be only knowledgeable on your prospect
property for sale, but you will also be knowledgeable on the qualification of
your real estate appraiser.
Tam Bay Realty LLC
1408 N West
Shore Blvd Suite 1000 Tampa, FL 33607
(813)
908-0706
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