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Showing posts from June, 2020

How can I hire an expert real estate appraiser?

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If you are contemplating to buy, resell or refinance your home, then getting the property appraised is the best option. Through this, you will be able to estimate the exact value of your property. To achieve a successful real estate transaction, you need to hire a reputable yet  cheap appraiser   who can perform a fair and accurate assessment within budget. So here are three tips for hiring an expert appraiser within budget. 1- Check with the real estate agents: An appraisal is typically a part of the sales process, and many real estate agents are familiar with local appraisers who offer services within budget. So, you can request the real estate agent to provide you with the details of reputable appraisers.  2- Talk to several before choosing one: Don’t hire the first appraiser you come across after your research. If possible, make sure to talk with multiple appraisers and check their experience with appraising property similar to yours. Once you find the

What approaches get considered while performing a commercial appraisal?

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A commercial property's value gets determined in various ways, and each of these ways gets built on a foundation of similar data. These data may detail information about a specific property or reveal general information on the community, neighborhood, city, or region. However, there are three main approaches that get considered while appraising commercial real estate, and these are: 1- Cost approach: With the cost approach, the property's value gets determined by comparing it to constructing an exact replica of your property. However, many questions get raised while using this approach. Hence, it is used only to appraise new or unique properties that have few similar sales.   2- Sales comparison/market approach: Many people in the commercial real estate appraisal industry believe that the sales comparison/market approach is more accurate as it equates the value based on similar features between the properties and takes the current market value into acc