How Does An Appraiser Determine Value?

To answer this question its useful to know that there are ten sections in a standard Uniform Residential Appraisal Report: 1) Purpose, 2) Subject, 3) Sales History, 4) Neighborhood, 5) Site, 6) Improvements, 7) Sales Comparison Approach, 8) Cost Approach, 9) Income Approach, 10) Reconciliation (where her opinion of final value is stated.)  The income and cost approach are used for specific purposes.  The sections that have the most weight in a residential appraisal’s final value are Sales History & Neighborhood. READ MORE

Via RealtyTimes

Visit my website to search ALL homes for sale – including foreclosures – learn about buying and selling and much more