Real estate property appraisal helps an organization or an individual know the value of the property in question. The fair price of land , a house or a building can be estimated, thanks to the evaluation of a property.
When requesting a loan against real estate, that is to say, when the real estate is considered either as a principal guarantee or as a secondary guarantee.
The valuation of intangible assets has become a very common practice from an accounting point of view to understand the valves and gears of business. It is also necessary to define the assessment values of the goods.
An appraiser is a professional who performs inspections to determine the current market value of property and/or land. The role of appraiser can be entrusted to a real estate agent or to an independent professional. Typically, these act on the instructions of a seller or lending institution that plans to finance the purchase.
Buyers can also appoint an expert to carry out a property appraisal if they are considering buying a property (known as a vendor survey), in addition to structural studies that assess its physical condition.
Local authorities may also use assessors to establish tax and pricing levels. In addition, assessors may be appointed to carry out the residual valuation of land, that is, to determine the value of land with development potential.
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