Remove Contracts Remove Market Value Remove Property Appraisal
article thumbnail

The Difference Between Pricing a Property and Appraising It

Cleveland Appraisal Blog

The opposing side in one of the cases required that a new valuation be completed by a state-certified appraiser. In the other case, my client’s attorney recommended having their marital property appraised. But the owner felt that a real estate agent could do the same type of valuation as an appraiser.

Appraisal 301
article thumbnail

Market Value: Who Says What It Is?

McKissock

Property appraisers don’t dictate what the value is. We merely research and analyze market data to interpret and then report what the market says the value is. Many years ago, an appraiser friend (Ben was his name) asked me to go along on a challenging appraisal assignment to aid in data collection.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The Challenges of Appraising Multifamily Properties

Appraisal Buzz

Challenges often arise in how professionals figure out the overall value of multifamily homes. Because appraisals are contingencies in 43% of contracts , you must find ways to accurately evaluate these properties. These properties are not for owner occupancy. Here’s how to overcome any obstacles that may arise.

Appraisal 397
article thumbnail

Purchase Contracts in Appraisal Reports

Walitt Solutions

One of those common scenarios goes like this: I completed an appraisal and transmitted the appraisal report to the client for a purchase appraisal. My market value conclusion came in below the purchase contract price. The client wants me to change my report to show the new amended contract price!

article thumbnail

What’s in a Sales Contract? Insights from a Seasoned Appraiser

McKissock

Why must an appraiser be given a copy of the sales contract? First and foremost, Standards Rule 1-5 in the Uniform Standards of Professional Appraisal Practice (USPAP) states that we are to: “analyze all agreements of sale.” When should we analyze the contract? That’s the real reason why—because USPAP says so.

article thumbnail

What Does an Appraiser Do?

Realtor

If you’re buying commercial real estate, a property appraiser may conduct a business valuation to determine market value in much the same way. A home appraiser will report on the value of similar properties in your area, so you can determine whether your upcoming real estate transaction is a smart one.

Appraisal 138
article thumbnail

Why Does the Appraiser Need the Sales Contract?

Town & Country Residential Appraisals

When it comes to appraising a property, appraisers must take into account all agreements of sale. According to Standards Rule 1-5 in the Uniform Standards of Professional Appraisal Practice (USPAP), we are required to analyze any contracts for sale. Appraisers are required to analyze all agreements of sale.