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Call us at
706.571.0424 or 1.866.571.FMMC (3662) for a FREE Loan Analysis! |
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APPRAISAL BASICS
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| An appraisal of real estate is the
valuation of the rights of ownership. The appraiser must define
the rights he intends to appraise. The appraiser does not
create value, the appraiser interprets the market to arrive at a
value estimate. As the appraiser compiles data pertinent to a
report, consideration must be given to the site and amenities as
well as the physical condition of the property. An appraiser may
spend only a short time inspecting the property, however, this
is only the beginning.
Considerable research and collection of general and specific
data must be accomplished before the appraiser can arrive at a
final opinion of value.
Due to the many types of value, such as Fair Market Value,
Insurance Value, Tax Value and Value In Use, the need to
precisely define the purpose of the appraisal is essential. |
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