The income capitalization Approach (often referred to simply as the "income approach") is used to value commercial and investment properties. Because it is intended to directly reflect or model the expectations and behaviors of typical market participants, this approach is generally considered the most applicable valuation technique for income-producing properties, where sufficient market data exists.
The various U.S. appraisal groups and international professional appraisal organizations have started collaborating in recent years towards the development of International Valuation Standards. This will facilitate global real estate appraisal standards, a much-needed adjunct to real estate investment portfolios which cross national boundaries. Some appraisal groups are already international organizations and thus, to some extent, already incorporate some level of global standards.

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
There is a key distinction between the role of a real estate agent and a valuer, as an agent may advocate for its principal's interests, whereas a valuer must impartially and independently provide opinion as to value. Lawyers, Conveyancers and Real Estate Agents are permitted to act in the sale of real estate under quite different legislation from that which governs valuers. The provision for the role in relation to Lawyers and Conveyancers is the Lawyers and Conveyancers 2006.
In Germany, real estate appraisal is known as real estate valuation (Immobilienbewertung). Real estate appraisers (Immobilienbewerter or Gutachter) can qualify to become a Öffentlich bestellter und vereidigter Sachverständiger (officially appointed and sworn expert). However, this formerly very important title has lost a lot of its importance over the past years, but still is of some value in court procedures. The title is not generally required for appraisals.
Because the appraisal primarily protects the lender's interests, the lender will usually order the appraisal. According to the Appraisal Institute, an association of professional real estate appraisers, a qualified appraiser should be licensed or certified (as required in all 50 states) and be familiar with the local area. Federal regulations state that the appraiser must be impartial and have no direct or indirect interest in the transaction. Fannie Mae requires appraisers to certify that they have experience appraising similar properties in the same geographic area.

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 seller can offer to carry a second mortgage for the difference.If the buyer really wants the home but cannot come up with the difference in cash, making payments or a lump sum payment at a later date to the seller is an option. After the escrow closes, sellers often retain the right to discount the second mortgage, sell it for less than face value to an investor.

U.S. Regulatory and Professional Standards and Guidelines  USPAP complia​nt valuation and independent-appraisal reviews for federally regulated  banks and financial institutions, asset-based lenders, family offices, endowments and foundations, high net worth individuals, private-equity investors and managed funds and, independent appraisal review expert witness and litigation support services to attorneys and in arbitration / mediation and as umpires.
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)
"Blockchain will transform the real estate industry. There's no doubt about it, and the earlier entities get on board, the more they stand to gain in terms of security and efficiency," said Tony Franco, CEO of SafeChain. "Starting with something as relatively straightforward as property transfers, blockchain creates a decentralized, near-perfect audit trail that can never be lost or stolen. Eliminating that risk opens the door to completely changing how properties are bought and sold in the U.S., and those changes will ultimately be to the consumer's benefit, as well as the real estate industry's as well."  
Did you know we hold a community Mobile Exemption and Information Team session every Wednesday at 12:00 pm at Broward County Governmental Center West, located at 1 N University Drive , Plantation, in rooms 2502 B & 2503 B? Property Appraiser Marty Kiar is enhancing our office's community outreach efforts. We are constantly adding new events at condos, city halls, businesses, and other community locations throughout Broward to our online calendar of upcoming events. If you would like to have someone from our office meet with taxpayers at an upcoming meeting of your condo/homeowners or civic association, please contact Mobile Exemption and Information Team Manager Michael Clark at 954.357.6905 or by email.
In Germany, real estate appraisal is known as real estate valuation (Immobilienbewertung). Real estate appraisers (Immobilienbewerter or Gutachter) can qualify to become a Öffentlich bestellter und vereidigter Sachverständiger (officially appointed and sworn expert). However, this formerly very important title has lost a lot of its importance over the past years, but still is of some value in court procedures. The title is not generally required for appraisals.
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.
Note: Submission of this appraisal order form does not constitute an acceptance of the order by the appraiser. The appraiser will contact you and discuss the details of the assignment and from that point an agreement can be reached between you and the appraiser about the assignment. If the appraiser does not contact you more than likely they are having email problems so you should try to contact them by phone.

WertV's general regulations are further supported by the Wertermittlungsrichtlinie (abbr. WertR, "directive on the determination of value").[21] The WertR provides templates for calculations, tables (e.g., economic depreciation) and guidelines for the consideration of different influences. WertV and WertR are not binding for appraisals for nonofficial use, nonetheless, they should be regarded as best practice or Generally Accepted (German) Valuation Practice (GAVP).

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A property's appraisal value is influenced by recent sales of similar properties and by current market trends. The home's amenities, the number of bedrooms and bathrooms, floor plan functionality and square footage are also key factors in assessing the home's value. The appraiser must do a complete visual inspection of the interior and exterior and note any conditions that adversely affect the property's value, such as needed repairs.
The International Valuation Standards Council (IVSC) is a non-governmental organization (NGO) member of the United Nations with membership that encompasses all the major national valuation standard-setters and professional associations from 41 different countries (including the Appraisal Institute, the American Society of Appraisers, the RICS, the [Practising Valuers Association of India] and the Appraisal Institute of Canada). IVSC publishes the International Valuation Standards (IVS), now in its 8th edition.
Lenders want to make sure that homeowners are not overborrowing for a property because the home serves as collateral for the mortgage. If the borrower should default on the mortgage and go into foreclosure, the lender will recoup the money it lent by selling the home. The appraisal helps the bank protect itself against lending more than it might be able to recover in this worst-case scenario.
Our experience in the personal property field is second to none. Each appraisal assignment we perform is held to the highest level of scrutiny. We pride ourselves on our honesty, integrity and commitment to service. All of our appraisals are prepared with the knowledge that we are ready and able to stand up in court, if necessary, to justify our findings.
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.

The BauGB defines the Verkehrswert or Marktwert (market value, both terms with identical meaning) as follows: "The market value is determined by the price that can be realized at the date of valuation, in an arm's length transaction, with due regard to the legal situation and the effective characteristics, the nature and lay of the premises or any other subject of the valuation"[19] (non-official translation). The intention, as in other countries, is to include all objective influences and to exclude all influences resulting from the subjective circumstances of the involved parties.

The various U.S. appraisal groups and international professional appraisal organizations have started collaborating in recent years towards the development of International Valuation Standards. This will facilitate global real estate appraisal standards, a much-needed adjunct to real estate investment portfolios which cross national boundaries. Some appraisal groups are already international organizations and thus, to some extent, already incorporate some level of global standards.
Real estate appraisal in Germany is partly codified by law. The federal Baugesetzbuch (abbr. BauGB, "German statutory code on building and construction'") contains guidelines on governing authorities, defines the term market value and refers to continuative rules (chapter 3, articles 192 ff.). Each municipality (city or administrative district) must form a Gutachterausschuss (appraisal committee), consisting of a chairman and honorary members.[18] The committee gathers information on all real estate deals (it is mandatory to send a copy of each notarial purchase contract to the Gutachterausschuss) and includes it in the Kaufpreissammlung (purchase price database). Most committees publish an official real estate market report every two years, in which besides other information on comparables the land value is determined. The committees also perform appraisals on behalf of public authorities.
Leasehold value – The interest held by a tenant. If the tenant pays market rent, then the leasehold has no market value. However, if the tenant pays less than the market, the difference between the present value of what is paid and the present value of market rents would be a positive leasehold value. For example, a major chain retailer may be able to negotiate a below-market lease to serve as the anchor tenant for a shopping center. This leasehold value may be transferable to another anchor tenant, and if so the retail tenant has a positive interest in the real estate.
As always, the Property Appraiser's office is ready to answer any of your value or exemption questions. Please remember that our office does not set the millage rates, adopt budgets or collect taxes. If your questions concern any of those issues, please contact the taxing authority listed in the notice. Their meeting dates, locations and times are printed on the back side of the form.
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On February 1, 2018, the AQB adopted new experience requirements to become a Licensed or Certified Appraiser. The requirements are effective May 1, 2018 in states that choose to adopt these criteria. States can opt to keep the old criteria as these are more stringent than the new requirements. You are required to complete 1,000 hours of experience in no less than 6 months. These hours must be directly supervised by an acceptable supervisory appraiser. Appraisers are required to maintain a log jointly with the supervisory appraiser.

In the UK, real estate appraisal is known as property valuation and a real estate appraiser is a land valuer or property valuer (usually a qualified chartered surveyor who specializes in property valuation).[15] Property valuation in the UK is regulated by the Royal Institution of Chartered Surveyors (RICS), a professional body encompassing all of the building and property-related professions. The RICS professional guidelines for valuers are published in what is commonly known as the Red Book. The 2011 version was the RICS Valuation Standards 7th Edition (2 May 2011), superseding an edition published in 2007 with later amendments. The RICS Valuation Standards contains mandatory rules, best practice guidance and related commentary. Changes to the standards are approved by the RICS Valuation Professional Group Board, and the Red Book is updated accordingly on a regular basis. While based in the UK, RICS is a global organization and has become very active in the United States in recent years through its affiliation with the Counselors of Real Estate, a division of the National Association of Realtors.
A property appraiser assesses value by taking into consideration everything that's permanently associated with the property. This includes the property's size and location, and whether it provides a view. If there is a building on the property, the appraiser will look at physical characteristics such as age, the number of bedrooms, and the overall condition of the structure. The appraiser will also consider the value of similar properties in the neighborhood when making a valuation.
To qualify, the homestead property must have been uninhabitable for at least 30 days and affected owners must file a sworn application for Abatement of Taxes for Homestead Residential Improvements (DR-463) along with supporting documentation to the Property Appraiser. If approved, the Property Appraiser will issue an official written statement to the Tax Collector, who will calculate and issue the credit.
Real property appraisers usually value one property at a time, while assessors value many at once. However, both occupations use similar methods and techniques. As a result, assessors and appraisers tend to take the same courses for certification. In addition to passing a statewide examination, candidates must usually complete a set number of on-the-job hours.

Thanks to Jason Taylor for providing an overview of the services provided by the Orange County Emergency Operations Center in the event of disaster in our area to representatives from our Commercial Real Estate team. As many as 80 representatives from government and community organizations can staff this room to work together to meet the needs of the county and its residents. In the aftermath of an incident, appraisers from our office go into the field and assess damage to residential and commercial buildings which is reported to the federal government.  
Remember this: appraisers are looking at the condition of what’s permanently part of or attached to the house. They’re not evaluating the décor or furniture or anything that’s not affixed to the property; what’s most important are your home’s physical characteristics (age, square footage, the number of bedrooms and baths, lot size, location, view) as well as their observable condition.
Appraisal practice in the United States is regulated by state. The Appraisal Foundation (TAF) is the primary standards body; its Appraisal Standards Board (ASB) promulgates and updates best practices as codified in the Uniform Standards of Professional Appraisal Practice (USPAP), while its Appraisal Qualifications Board (AQB) promulgates minimum standards for appraiser certification and licensing.
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.

The final millage rate will be voted upon as part of the final budget approval in September. Each taxing authority holds a public hearing for that vote. The hearing dates and contact information are provided on the TRIM notice. The new fiscal year begins October 1 and the Pinellas County Tax Collector sends out the tax bills on or about November 1.
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