SandraDesantiago97

Real estate appraisal is that the true one?

Real estate assessment or property value is the method of determining the value of the property on the basis of the greatest and the best use of real property (which essentially means determining the fair market value of the property). The person who performs this real estate appraisal exercise is called the real estate appraiser or property worth surveyor. The value as dependant on real estate appraisal could be the fair market value. The real estate appraisal is completed using different techniques and the real estate appraisal values as different for difference functions e.g the home. Different values might be assigned 2 by the real estate appraisal to the same property vacant value) and (Improved value and again the same/similar property might be assigned different values in a residential zone and an industrial zone. However, the value given as a result of real estate appraisal mightn't be the value that a real estate investor would consider when assessing the property for investment. In reality, a real estate investor might completely disregard the importance that happens of real estate assessment process.

A good real estate investor would consider the home on the basis of the improvements going on in the area. Therefore real estate appraisal as completed by a real estate investor would come up with the importance that the real estate investor will get out of the home by buying it at a price and selling it at a greater price (as in today's). Likewise, real estate investor could do their own real estate appraisal for the expected value of the home in, say 2 years time or in 5 years time. Again, a estate investor might perform his real estate assessment based on what value he/she can cause by investing some amount of money in the property i.e. a estate investor might decide on buying a dirty/scary kind of property (which no one likes) and get some slight repairs, painting etc done in order to increase the value of the property (the value that the real estate investor would get by selling it in the industry). So, here the meaning of real estate appraisal adjustments completely (and can be very distinctive from the value that real estate appraiser would turn out with the house) on if the real estate appraiser conducted a estate appraisal exercise.

A real estate investor will usually base his investment decision with this real estate assessment he does by himself (or gets performed through someone). Therefore, can we then term real estate appraisal as a very real real estate appraisal? sponsor