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Could being located next to a property that is an eye-sore cause a loss in marketvalue to your home? Part of our work as appraisers is to consider whether situations like this are influencing the marketvalue of the home we are appraising. Of course, that’s not the same as marketvalue.
The appraiser will determine which of the values is most appropriate and reflective of demonstrating the marketvalue of the property being appraised. Once this happens, the appraiser will explain which approach to value was given the most weight, or consideration, and why. Have a great weekend!
I thought I would take some time in this week’s blog post to explain the process you can take to appeal your high realproperty tax assessment if you think they are too high. These assessments are based on various factors, including the property’s size, location, condition, and comparable sales in the area.
Having worked with many different lending institutions completing new construction and planned renovation assignments, think of this article as a “best practices” reference to be shared with new lenders, credit analyst team members and borrowers navigating the commercial appraisal process for the first time.
Business components in special purpose properties are often referred to as “intangibles.” Below, we provide an overview of intangibles and outline six special purpose property tips for appraisal reviewers. Special purpose property tips. Value in use requires considering the business as a going concern. Intangibles.
My marketvalue conclusion came in below the purchase contract price. Now, a few weeks later, the parties have signed an addendum to the contract to match my value conclusion; the client has sent me that addendum. So, the contract price changing does not require the appraiser to consider this situation a new assignment.
The two basic licenses are Certified Residential RealProperty Appraiser and Certified General RealProperty Appraiser. Ask them for their resume and a list of two or three references. The references should be current or previous clients, and at least one should be from the community.
1031 Exchange” is a colloquial reference to Section 1031 of the United States Internal Revenue Code (26 U.S.C 1031 ), which defines the conditions for tax deferral on the sale of real estate. No “Boot” : Boot refers to any non-like kind property received in a 1031 exchange. What is a 1031 Exchange?
To read many practical tips, click here My comments: Worth reading. The GSEs have posted the following industry resources to begin the multiyear rollout phase: Playbook – for all industry partners to begin planning for implementation.
As the author of these blogs is an appraiser, and this deals with the largest realproperty valuation organization in the country, I thought it may be apropos to style this blog after an appraisal review. I have paraphrased some of the comments to remove direct references and to fit into the pseudo appraisal review theme. “I
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