An appraisal of real estate
By Gena Bolton, Sandestin, Destin and South Walton 30A Real Estate
(Real Broker LLC - CRS, GRI, CLHMS )
An appraisal of real estate is the valuation of the rights of ownership. Instead of just creating the property value, the appraiser uses market data to derive a value estimate. The appraiser must take the site, amenities and the physical condition of the property into consideration when compiling the report. Before the appraiser can come to a final opinion of value, there must be a good deal of data conducted and collected. He will inspect the property as part of preparing the report. The need to accurately define the purpose of the appraisal is essential due to the many types of value, such as Fair Market Value, Insurance Value, Tax Value and Value In Use. Mortgage companies request the majority of real estate appraisals to confirm the property's purchase price for loan purposes...
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