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Visit Below Link, To Download This Course:\n\nhttps://www.tutorialsservice.net/product/res-301-week-5-final-paper-appraisal-industry\n\nOr \nEmail us on\nSUPPORT@TUTORIALSSERVICE.NET\n\nRES 301 Week 5 Final Paper Appraisal Industry\nRES301\nRES 301 Week 5 Final Paper Appraisal Industry\nAppraisal Industry\nIntroduction\nA real estate appraisal refers to an opinion as to the value of the property which is being appraised. The value is determined by a licensed Real Estate Appraiser who utilizes the current housing market values to determine such an opinion. Real estate is a diverse industry, and not all properties are identical. Property may vary from vacant land, condominiums, and single family homes to multi-million dollar estates or commercial real estate. The same two floor plans also experience differing values from one city to the next. Some of the most obvious factors in determining a property value are the location, size, and age of the structure on the property. This paper will review the appraisal process along with some of the ethical considerations real estate appraisers face such as the legal and financial consequences of real estate appraisals.\n

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res 301 week 5 final paper appraisal industry

RES 301 WEEK 5 FINAL PAPER APPRAISAL INDUSTRY

Visit Below Link, To Download This Course:

https://www.tutorialsservice.net/product/res-301-week-5-final-paper-appraisal-industry

Or

Email us on

SUPPORT@TUTORIALSSERVICE.NET

RES 301 Week 5 Final Paper Appraisal Industry

RES301

RES 301 Week 5 Final Paper Appraisal Industry

Appraisal Industry

Introduction

A real estate appraisal refers to an opinion as to the value of the property which is being appraised. The

value is determined by a licensed Real Estate Appraiser who utilizes the current housing market values to

determine such an opinion. Real estate is a diverse industry, and not all properties are identical. Property

may vary from vacant land, condominiums, and single family homes to multi-million dollar estates or

commercial real estate. The same two floor plans also experience differing values from one city to the

next. Some of the most obvious factors in determining a property value are the location, size, and age of

the structure on the property. This paper will review the appraisal process along with some of the ethical

considerations real estate appraisers face such as the legal and financial consequences of real estate

appraisals.

The Valuation Process of an Appraisal

The process of developing an appraisal report is often viewed as problem solving with the ultimate goal

being an educated estimation of the value of the subject property. There are eight steps involved in the

process of valuation, which are shown in Figure 1 below as 1. Definition of the Problem, 2. Scope of

Work, 3. Data Collection and Property Description, 4. Data Analysis, 5. Land Value Opinion, 6.

Application of the Approaches to Value, 7. Reconciliation and Final Opinion of Value, and 8. The Report

of Defined Values. (McKinley, M., 2001).

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