You may ask when is an appraisal service needed? Appraisals are generally required whenever real property is sold, mortgaged, taxed, insured, or developed. In most countries, appraisers are required to be licensed and certified to properly value property and land. So if you are looking to purchase a home in the near future you will notice that your bank will order an appraisal to value the property to make sure that it's worth the value that you are borrowing from them.
Summary:Professional real estate appraiser and expert witness since 1987. Owner of Compass Real Estate Consulting, Inc. in Lakeland, Florida since 1994. Service area concentrated in central Florida, but available for complex appraisal assignments and litigation support nationwide. Has provided appraisal and consulting services in 32 Florida counties, and in Tennessee. Valuation assignments on the island of Guam from 2010 to the present. Serves as an appointed Special Magistrate in several...
In the United States, appraisals are for a certain type of value (e.g., foreclosure value, fair market value, distressed sale value, investment value). The most commonly used definition of value is Market Value. While Uniform Standards of Professional Appraisal Practice (USPAP) does not define Market Value, it provides general guidance for how Market Value should be defined:
The National Association of Appraisers (NAA) was formed with a purpose of uniting those engaged in the appraisal profession for the purpose of exerting a beneficial influence upon the profession and to advocate appraiser interests. The NAA has established an advisory group consisting of leadership at the state organizations and coalitions called the Board of Governors where those states can help guide the NAA in acting in the best interest of all appraisers. The NAA also has a designated membership, MNAA (Member of the National Association of Appraisers, who is an individual who holds an appraisal license, certification or similar appraisal credential issued by a governmental agency; and who accepts the membership requirements and objectives of the National Association of Appraisers.
The scope of work is the first step in any appraisal process. Without a strictly defined scope of work, an appraisal's conclusions may not be viable. By defining the scope of work, an appraiser can properly develop a value for a given property for the intended user, and for the intended use of the appraisal. The whole idea of "scope of work" is to provide clear expectations and guidelines for all parties as to what the appraisal report does, and does not, cover; and how much work has gone into it.
This article is largely based on an article in the out-of-copyright Encyclopædia Britannica Eleventh Edition, which was produced in 1911. It should be brought up to date to reflect subsequent history or scholarship (including the references, if any). When you have completed the review, replace this notice with a simple note on this article's talk page. (November 2017)
The sales comparison approach is based primarily on the principle of substitution. This approach assumes a prudent (or rational) individual will pay no more for a property than it would cost to purchase a comparable substitute property. The approach recognizes that a typical buyer will compare asking prices and seek to purchase the property that meets his or her wants and needs for the lowest cost. In developing the sales comparison approach, the appraiser attempts to interpret and measure the actions of parties involved in the marketplace, including buyers, sellers, and investors.
Maybe you aren't interested in putting your house on the market, and just want to get an idea of what it's worth. Or perhaps you really are thinking about a for-sale sign in the front yard and need to learn what to expect from its value. There are certainly plenty of reasons why you should get an estimate on your largest personal investment. And for each of them, eppraisal helps you find out in a matter of seconds.
Our investment in training and technology has helped our customers greatly reduce their workload. By offering on-line appraisal ordering, coupled with automatic report status updates and electronic delivery of the final product, we are able to eliminate the run around and phone tag hassles associated with this process. And since this process saves us money as well, we can keep our rates competitive with anybody in the industry.
Department is an industry leader in valuation services, counseling and advisory services. As one of the larger appraisal firms in the Tampa Bay Area, we have a depth of appraisal expertise in a wide variety of areas. We have commercial and industrial appraisers fluent in Spanish and Polish. We have extensive experience appraising properties of all sizes from the smallest retail or mixed use properties to large condominium developments or regional shopping centers. We
Extremely thorough and informative, went above and beyond what I expected. Very easy to talk to and completed in less than an week. Always on time and very professional. Information in the appraisal made putting my house on the market a much less stressful endeavor. Also gave me some great advice regarding getting my house ready for sale. Thank YOU!
The Trainee Appraiser level does not have an experience requirement. Each Trainee Appraiser must be supervised to get the required hours of experience before applying for the Licensed Residential Appraiser level. Locating a certified appraiser is a very important step to becoming an appraiser. The trainee and supervisory appraiser must keep a log of work completed that will be reviewed when the trainee applies for any license to the state regulatory body. Effective January 1, 2015, all new Trainee (Beginning) Appraisers and Supervisory Appraisers are required to complete an approved Supervisor/Trainee course before they will be able to log experience hours.
Please note: The discipline and specialty of each appraiser in this search are verified by ASA. Other items on an appraisers’ profile (such as keywords or information on a resume) are self-reported by our members following the ASA requirement for them to abide by the ASA Principles of Appraisal Practice and Code of Ethics and the Appraisal Foundation's Uniform Standards of Professional Appraisal Practice.
Amortization Annual Income Appraisal Appraisal Fee APR ARM Balloon Payment Bankruptcy Borrower Cash-Out Refinance Closing Checklist Closing Costs Closing Disclosure Co-Borrower Conventional Loan Cosigner Credit History Credit Report Credit Requirements Debt Ratio Disclosure Discount Points Down Payment Down Payment Grant Earnest Money Eligibility Equity Escrow Fannie Mae FHA FHA Funding Fee FHA Handbook FHA Limits FHA Loan FHA Minimum Standards FHA One-Time Close FHA Refinance FHA Requirements FICO Score First-Time Homebuyer Fixed Rate Mortgage Foreclosure Freddie Mac Good Faith Estimate Home Equity Loan Home Inspection HUD HUD-1 Settlement Statement Identity Theft Interest Rate Joint Loan Jumbo Loan Lender Loan Application Loan Approval Loan Balance Loan Officer Loan Term Loan-to-Value Ratio MIP Monthly Payment Mortgage Mortgage Closing Obama Mortgage Origination Fee Owner Occupied PMI Pre-Approval Prepayment Prequalification Principal Property Tax Property Title Reverse Mortgage Second Mortgage Single Family Home Streamline Refinance Subprime Mortgage
Appraisals can be assigned to nearly any item, including real estate. Appraisals are conducted by individuals called appraisers. Appraisers are educated in a variety of market valuation methods and are recognized by a regulatory authority as being capable of issuing an accurate valuation. For instance, an appraisal on an antique will take into account such variables as age, condition, origin, and availability of authenticating documentation.
But the most common reason for value differing from price is that either the buyer or the seller is uninformed as to what a property's market value is but nevertheless agrees on a contract at a certain price which is either too expensive or too cheap. This is unfortunate for one of the two parties. It is the obligation of a real property appraiser to estimate the true market value of a property and not its market price.
Pinellas County Property Appraiser Mike Twitty and his staff are dedicated to producing fair and equitable Property Value Assessments. We strive to provide exceptional service to the citizens of Pinellas County. The information on this site has been prepared as a public service, and to give you an overview of some of the activities in the Property Appraiser's Office.