What do Appraisers, Real Estate do?
Appraise real property to determine its value for purchase, sales, investment, mortgage, or loan purposes.
- Prepare written reports that estimate property values, outline methods by which the estimations were made, and meet appraisal standards.
- Compute final estimation of property values, taking into account such factors as depreciation, replacement costs, value comparisons of similar properties, and income potential.
- Search public records for transactions such as sales, leases, and assessments.
- Inspect properties to evaluate construction, condition, special features, and functional design, and to take property measurements.
- Photograph interiors and exteriors of properties to assist in estimating property value, substantiate findings, and complete appraisal reports.
- Evaluate land and neighborhoods where properties are situated, considering locations and trends or impending changes that could influence future values.
- Obtain county land values and sales information about nearby properties to aid in establishment of property values.
- Verify legal descriptions of properties by comparing them to county records.
- Check building codes and zoning bylaws to determine any effects on the properties being appraised.
- Estimate building replacement costs using building valuation manuals and professional cost estimators.
- Examine income records and operating costs of income properties.
- Interview persons familiar with properties and immediate surroundings, such as contractors, home owners, and realtors, to obtain pertinent information.
- Examine the type and location of nearby services, such as shopping centers, schools, parks, and other neighborhood features, to evaluate their impact on property values.
- Draw land diagrams that will be used in appraisal reports to support findings.
- Testify in court as to the value of a piece of real estate property.
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