KrickDemello470

Real estate appraisal is that the real one?

Real estate assessment or property valuation is the method of determining the value of the property on the basis of the greatest and the best use of real property (which fundamentally means determining the fair market value of the property). The person who performs this real estate assessment exercise is known as the real estate appraiser or property worth surveyor. The value as determined by property appraisal may be the fair market value. The real estate appraisal is done using various practices and the real estate appraisal values as different for difference purposes e.g the property. The actual estate appraisal might assign 2 different values to exactly the same property (Improved value and bare value) and again the same/similar property might be given different values in a commercial zone and a residential zone. However, the value given as a result of real estate appraisal mightn't be the value when assessing the property for investment a real estate investor would consider. In fact, a real estate investor might totally ignore the importance that happens of real estate appraisal process.

On the basis of the improvements going on in your community a great real estate investor could assess the property. Therefore as done by a real estate investor real estate appraisal could come up with the importance that the real estate investor can get out of the home by buying it at a price and selling it at a much higher price (as in the present). Equally, real estate investor could do his own real estate appraisal for the estimated value of the house in, say 2 years time or in 5 years time. Again, a estate investor might perform his real estate assessment based on what value he/she can make by committing some amount of money in the property i.e. a estate investor might decide on buying a dirty/scary kind of property (which no body 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 industry). So, here the meaning of real estate appraisal changes completely (and can be extremely distinctive from the value that real estate appraiser would turn out with if a real estate appraisal exercise was conducted by the real estate appraiser on the property).

A real estate investor will usually base his investment decision on this real estate appraisal he does by himself (or gets accomplished through someone). So, can we then term real estate appraisal as a really real real estate appraisal? in english