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What is a Real Appraiser?
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Learn what a real estate appraiser is and does.
THE JOB
The appraisers at By George! Appraisal Services are specialists in estimating the value of real property. Real property consists of land, buildings, and natural resources such as water, oil, or minerals. Estimates of value, known as appraisals, are made when property is bought, sold, assessed, taxed, condemned, insured, or mortgaged. They may also be required in divorce actions, when partnerships are dissolved, and when property is listed as a business asset.
The appraisers at By George! Appraisal Services, as independent fee appraisers, give expert testimony in court. They also act as consultants.
The appraisers at By George! Appraisal Services prepare a written description of the property and make an estimate of its value. They may complete standardized checklists as they evaluate the property and the neighborhood in which it is situated. The appraisers at By George! Appraisal Services obtain land values from county sources and sales information about nearby properties. They also examine the income records and operating costs of income properties. Appraisers estimate building replacement costs using building valuation manuals and professional cost estimators. They also verify legal descriptions of property with local tax records, measure the property and compare the measurements with the legal descriptions. They draw land diagrams and note conditions and special features of buildings.
The appraisers at By George! Appraisal Services analyze and evaluate the data and prepare a written report outlining methods by which the fair-market value was estimated.
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