When looking to invest in a property, particularly one that is run down and in need of renovation, there is always a need to define current and potential values. Investment property appraisal can be instrumental in defining AS-IS value and AS-REPAIRED value, which consequently enable investors to get an important insight into the future potential […]
Appraisers frequently have their work reviewed, especially when an appraisal’s intended use is for financing. Reviewing appraisals is routinely part of the job description for appraisers employed by lending institutions. But the scope of work for review assignments varies significantly, and sometimes reviews are performed by non-appraisers. Both appraisers and their clients need to clearly
Property appraisal differences often occur when two appraisers analyze the same property but arrive at varying value conclusions. These differences can confuse appraisal users, but understanding the factors behind them can help determine which value estimate is more reliable. Appraisals of the same property by different appraisers are rarely the same. Differing value opinions are