Kerrigan

Real estate appraisal is that the real one?

Real estate appraisal or property valuation is the process of determining the value of the property on the basis of the highest and the best use of real property (which basically results in determining the fair market value of the property). The person who performs this real estate appraisal exercise is named the real estate appraiser or property valuation surveyor. The value as based on real-estate assessment may be the fair market value. The real estate appraisal is completed using different methods and the real estate appraisal values the home as different for difference applications e.g. Different values might be assigned 2 by the real estate appraisal to the same property (Improved value and vacant value) and again the same/similar property might be given different values in a residential zone and a commercial zone. But, the value given because of this of real estate appraisal might not be the value when evaluating the house for investment a real estate investor would consider. Actually, a real estate investor might totally disregard the value that arrives of real estate assessment process.

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A great real-estate investor would consider the property on the basis of the improvements going on in the region. Therefore real estate appraisal as done by a real estate investor would come up with the importance that the real estate investor could possibly get out of the home by getting it at a price and selling it at a much higher price (as in our). Likewise, real estate investor may do their own real estate assessment for the estimated value of the home in, say 2 years time or in 5 years time. Again, a estate investor might conduct his real estate appraisal based on what value he/she can make by trading some sum of money in the property i.e. a estate investor might decide on purchasing a dirty/scary sort of property (which no one wants) and get some small repairs, painting etc done in order to increase the value of the property (the value that the real estate investor could get by selling it in the market). So, here the meaning of real estate appraisal changes completely (and can be extremely distinctive from the price that real estate appraiser would come out with if the real estate appraiser conducted a estate appraisal exercise on the home).

A real estate investor will generally base his investment decision with this real estate appraisal he does by himself (or gets performed through someone). So, can we then term real estate appraisal as a truly real real estate appraisal?