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What is an appraisal	Should you get an appraisal	What does a real estate appraiser do

How is market value determined	What criteria goes into an appraisal	What does an appraisal report contain

Where does the appraiser get outside data from	When can I expect my appraisal report	What is the cost of an appraisal

What is the USPAP	What qualifications are required of appraisers	What professional organizations exist for appraisers

What Goes Into An Appraisal

Written reports estimating the value of the property, with detailed outlines describing how the appraiser created these numbers.
Final estimation of property value should be computed, considering criteria that includes improvement / replacement costs, depreciation, monetary comparisons of like properties, and the potential to bring in future income.
The property should be thoroughly inspected to evaluate its condition, special features, design, and measurements of all areas.
Interior as well as exterior photographs should be taken.
The land and neighborhood in which the property is located should be evaluated. Here any local trends or impending changes should be taken into consideration.
County land values should be attained from local records, as well as sales information of properties located in the same area.
County records should also be examined to verify any legal descriptions.
Building codes and zoning laws must be verified.
Valuation manuals and professional cost estimators should be used to estimate replacement costs.

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Additional RESOURCES


Home Study - USPAP USPAP now available by Distance Ed. No classroom attendance required. www.realestatelicense.com Tax-Free RE Information Real Estate + More in Your IRA/401K Create Tax-Free Income: Free Report www.EquityTrustCompany.net ARGUS Valuation Trial The Standard for Commercial Real Estate DCF Valuation. Try Free Now! www.argussoftware.com Appraisal & Title Service Residential & Commercial. Licensed & Certified. Weekend Appts Avail. www.eastcoastappraisal.com
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