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The market value and assessed value of a property do not necessarily have to match, and in fact often don’t, with assessed values lagging current market values. Is fair market value the same as ...
Real estate appraisal, property valuation or land valuation is the process of assessing the value of real property (usually market value). Real estate transactions often require appraisals because every property has unique characteristics.
One of the most difficult aspects of the real estate market is estimating the value of a home. With local market conditions changing all the time, it can be hard to accurately price a property. In ...
Market value is the most commonly used type of value in real estate appraisal in the United States because it is required for all federally regulated mortgage transactions, and because it has been accepted by US courts as valid. However, real estate appraisers use many other definitions of value in other situations. [5]
An appraisal is a process used to determine the value of a home. Usually, if the homebuyer is seeking financing for the purchase, the bank or mortgage lender will require the property be appraised.
If the value of the commercial lot as vacant in "House B" exceeds the value of house as a residence as improved plus demolition costs, the overall highest and best use of this property would be the as vacant value of the commercial lot. For example, assume that "House B" has a value as a house of $200,000, and a site value as a commercial lot ...
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