What is Residential Real Estate AppraisalReal Estate Appraisals are conducted to arrive at a Value not only for selling or buying property but also for issues such as Mortgage Financing, Estate Planning, Capital Gains Tax issues, Property Tax Assessment Reviews/Appeals, Relocation (decisions and solutions), Construction and even Legal Matters such as Divorce and Nuptial Agreements.
The role of Residential Real Estate Appraisers everywhere is to make an assessment of value that is both realistic and fair.
Buyers face the quandary – is it worth the buy?
Expert appraisal solves this problem for both parties.
Appraisals lead to the formulation of more realistic figures and should both parties have conducted appraisals the figures arrived at would be quite similar – enabling the deal to go through.For issues other than sales-purchase, appraisals provide ammunition for the owner to take on the other party, whether Tax Authority or in Court.The process of Appraisal to arrive at a fair or realistic value has three basic approaches.
But this has become increasingly sophisticated and companies like UCAS with trans Canada presence established over more than 20 years may apply any of a number of variants.Appraising single-family homes: the usual method is the Sales Comparison Approach or the Market Data Approach.