Boston Real Estate Appraisers

The variety of real property that appraisers are asked to review are nearly limitless. This is particularly true of commercial appraisers whose assignments may include appraising vacant land, office buildings, retail complexes, industrial properties, and special use buildings. Licensed and certified appraisers must be competent enough to perform any assignments they accept; however, no one appraiser is expected to be knowledgeable about every type of real estate in every location. Fortunately, there are clear guidelines for appraisers to follow to ensure their appraisals are always performed competently.

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Boston Real Estate Appraisers

Real estate appraisals can be used to serve a wide range of purposes: selling, buying, refinancing, or settling an estate. However, the most common goal of an appraisal is to establish the market value of a property. Although the concept of market value (sometimes also called Fair Market Value) is frequently mentioned in the real estate business, it is not always understood. It is type of value opinion among others definitions of value. It is essential to define what market value represents to understand its relevance to an appraisal.

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Boston Real Estate Appraisers

Given the growth of the real estate market and gradual stabilization of values as we approach the top of the market, it’s more important than ever to evaluate the equity position in our portfolios and make educated and informed decisions to keep holding or pursue an exit strategy. Appraisal plays a critical role in the investment process and can lend considerable insight to your approach.

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Boston Real Estate Appraisers

Appraisals express value as the monetary relationship between properties and those who buy, sell or use those properties, as defined by the Uniform Standards of Professional Practice(USPAP). Fundamental to appraisal practice is the idea of comparing the subject of an assignment to other properties. The Sales Comparison Approach is the foundation of appraisal analysis: appraisers apply its techniques not only in that approach but also in the Cost Approach and Income Approach. Competent appraisers recognize the components by which buyers and sellers judge properties and then measure those components relative to a subject property.

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