Real Estate Appraisal Jobs - How to get Real Estate Appraisal Jobs
real estate appraiser jobs
The job of a Real Estate appraiser is to formulate an opinion of a property’s value, which can then be used to determine what amount of money will be used when stating the value of a property for marketing, rental, or liquidation purposes. Some states do not require any license or certification to perform an appraisal, but it’s generally required for any appraisal to have legal standing.
Since no two properties are alike it’s necessary to do a specific appraisal for each property. A property’s location is the most important consideration in determining value. Standardized forms are used for mortgage valuation appraisals and narrative reports in Real Estate appraiser jobs done to appraise raw land or income properties. There are different formulas to arrive at value, such as-
Market Value is an estimate of what amount of money the property should exchange for on a specific date between a willing buyer and a willing seller after proper marketing and due diligence by both parties.
Value-In-Use is the net present value of cash flow an asset is generating for a specific owner under a specific use. It’s the value for a particular user, usually below market value.
Investment Value is the value for one particular investor, usually more than market value.
Liquidation Value is analyzed as either forced liquidation or an orderly liquidation. It assumes the owner must sell in a shorter than normal timeframe.
Many appraisers are residents of their local area so they are familiar with present and future situations that might affect value. Residential real estate appraisers specialize in properties of one to four living units, while general appraisers will take any kind of Real Estate appraisal jobs. All will often take pictures around the property to include with their appraisal forms, such as around the foundation.