Appraising
Appraising
What is an appraisal?
An appraisal is simply an opinion of value.
First and foremost, appraising is an art and not a science. Science is more defendable so appraisers tend to stick with as much science as they can.
Appraising Real Estate is done for many reasons
- For obtaining a mortgage
- To determine the replacement for insurance
- For tax assessing and appealing
- For negotiations between a buyer and seller
When appraising Real Property there are three approaches an appraiser can take.
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