Consumer Appraisal
Services are provided to a consumer, generally the home owner or a representative of the estate. Once the appraiser determines the appraisal needs and develops a scope of work to be completed in the appraisal process the appraiser will perform an interior and exterior inspection of the home, measure the exterior, map out the interior floor plan and take multiple pictures to document the details. Consumer appraisals are ordered for various reasons, among them are Estate Settlement, Tax Reassessment, and Divorce Settlement.
Please feel free to contact us if you have any questions or if we may be of service.
Please feel free to contact us if you have any questions or if we may be of service.
Definition of Market Value:
The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby:
• Buyer and seller are typically motivated;
• Both parties are well informed or well advised, and acting in what they consider their best interests;
• A reasonable time is allowed for exposure in the open market;
• Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto;
• The price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale.
*definition from: The Appraisal Institute’s The Dictionary of Real Estate Appraisal, 5th Edition
The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby:
• Buyer and seller are typically motivated;
• Both parties are well informed or well advised, and acting in what they consider their best interests;
• A reasonable time is allowed for exposure in the open market;
• Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto;
• The price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale.
*definition from: The Appraisal Institute’s The Dictionary of Real Estate Appraisal, 5th Edition
