Buying a piece of Real Estate weather for personal use or investment properties is probably one of the single largest investment decisions a person can make in a lifetime.
The valuation process is extremely significant, since the purchase of Real Estate may be one of the largest financial transactions a person may ever make.
An appraiser is State Licensed, State Certified, or State Certified General who can be called upon to provide an educated opinion of current value at the time of appraisal for properties and land being sold or purchased.
An Appraisal can also be used for future value of a property being build, or damaged due to storms, vandalism, deterioration, and functional obsolescence.
An Appraisal can also be used for values for the purpose of Lending decisions, Property Insurance, Disposition of an Estate, Legal Disputes, Damage claims, Tax Assessment, and value of property being Expropriated by the Government.
Some Appraisals are also ordered by the homeowners in determining the current value of their property, and to determine what changes they can make to render their property a higher value in the future.