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For anyone who is interested in real estate, and enjoys working largely outside of an office while doing onsite research, becoming an appraiser could be a great career path. A real estate appraiser is an individual who determines the value of a constructed home, piece of commercial property, a to-be-constructed building, or even a piece of vacant land. There are various different types of appraisers, who earn a wide range of income, and work for a range of employers.
The two main type of appraisers are residential real estate appraisers and commercial real estate appraisers. Residential real estate appraisers are largely used to determine the value of residential homes. Prior to approving a home loan, the vast majority of mortgage lenders will use residential appraisers to determine the value of the home. If the value is insufficient, the lender may not approve the loan. Residential appraisals are largely based off of sales prices of similar properties.
Commercial real estate appraisers are similar to residential appraisers, except they determine the value of income producing real estate assets such as retail centers, office buildings, or apartment complexes. Commercial real estate appraisals are far more complex than residential appraisals. The valuation method most frequently used in a commercial appraisal is the income approach, which determines potential net operating income and derives a value based on that amount.
Real estate appraisers are hired most frequently by either banks or third party companies. Since banks are required to get appraisals for most residential and commercial assets, it often makes sense for banks to keep an appraisal staff on their payroll. However, some banks choose to not invest in their own appraisal staff. Instead, many banks will outsource their appraisals to third party companies. Third party appraisal companies will also perform appraisals for individuals, who choose not to use the banks preferred appraisal.
In general, commercial real estate appraisers earn far more than residential appraisers. While compensation is normally higher, becoming a commercial real estate appraiser typically involves far more certification and education than becoming a residential real estate appraiser.
What else can I help you with?
Where can one find information about collier county property appraiser?
There are different places to find information about the Collier Country Property Appraiser. The sites CollierAppraiser and CollierClerk both have information about this process.
Where is it possible to hire a property appraiser in Volusia county?
One can hire a property appraiser in Volusia county by looking at the local yellow pages for the information on the established property appraiser in the community.
Where can one find a real estate appraiser school?
You can find a real estate appraiser school at the Appraiser License website. Once on the page, select the state you want to get your license in to bring up more information.
How do you become a property appraiser?
Check with your state Real Estate Commission, usually under the Department of Insurance and Banking. This is a license similar to the process of becoming a real estate agent. Try searching for "Real Estate Appraiser License"
What kind of services does Citrus County property appraiser offer?
Citrus County property appraiser offer assessment, appraisal and exemptions. Citrus County is located in the state of Florida. The appraiser would assist in obtaining property ownership information.
What kind of information can be found on the Lake County Property Appraiser website?
The Lake County Property Appraiser website has great information on the Lake properties in Nebraska and California. They have great price listings for anyone who needs to find some fun in the lakes.
Where can I find information on becoming a truck driver?
"www.truckersrreport.com" is a general FAQ and information resource on truck driving. The site contains plenty of information on becoming a truck driver.
Where can one find information about becoming an entrepreneur?
Some good places that one can find information about becoming an entrepreneur are wikiHow and the Forbes websites. Both of these sites offer information and tips.
what was the last sale date and price of 133 brigantine drive, Ocean City, nj 08226?
This is public information. The county court house or the county appraiser will have this information.
What are some of the services offered on the Broward County Property Appraiser's website?
The Broward County Property Appraiser's official websites offers maps, downloadable property tax forms, information for homeowners on how to avoid foreclosure on their home, and much more.
Where can one find information on becoming a dog trainer?
You get find information on becoming a dog trainer different places. The best place to get information would be to work with a known trainer to learn the ropes of the job.
Where can one find information about becoming a medical office administrator?
One can find information about becoming a medical office administrator on various websites like CD-ED and CRBC. One could also visit a local hospital and ask information about becoming a medical office administrator in there.
