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Home Equity and Refinancing
The Difference Between
Can a residential appraiser also appraise small commercial properties If so up to what maximum value of property?
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What does appraise mean?
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What is a real estate appraiser?
Real estate appraisal is the process of establishing a fair market value for real property. A real estate appraiser is a professional whose job it is to give an Opinion of Value of real property. An appraiser can appraise property for mortgage purposes, insurance purposes, tax purposes, for setting a price for a seller or for determining the value of an estate. An appraiser examines the property, takes pictures, notes any improvements or upgrades, damages or problems, studies the area, determines a rating for the general condition, uses the MLS and other databases to see what other similar homes have sold for recently, and then gives his opinion of the market value of the property.