Real estate appraisal

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Real estate appraisal

An estimate of the value of property using various methods.

Real Estate Appraisal

The act of estimating the value of real estate by a person licensed to do so. A person performing an appraisal must receive authorization from the appropriate body of the state in which he/she resides. A real estate appraisal may take into account the quality of the property, values of surrounding properties, and market conditions in the area. It is important for determining the property taxes for which the owner is liable, as well as a potential sale price, if the owner wishes to sell his/her property.
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STEPHENS, MAI, urged a federal judicial agency March 14 to require the use of real estate appraisals when calculating loss in mortgage fraud cases.
Rivera said that the Al's concerns about the use of phrases "complete" or "limited" when describing the requirements for real estate appraisals when the real estate transaction is over or under $1,000,000 is being reviewed.
The section on real estate appraisals and evaluations and the respective examination procedures and internal control questionnaire were revised to incorporate this October 27, 2003, interagency statement.
Title XI of FIRREA was enacted "to promote the safety and soundness of insured institutions by requiring that real estate appraisals utilized in connection with federally related transactions be performed in writing in accordance with the uniform standards by individuals whose competency has been demonstrated and whose professional conduct is subject to effective supervision.
Real estate appraisers have the necessary real estate background and training to do real estate appraisals.
Description of Work: It is the goal of this solicitation is to identify and contract with appraisers and appraisal reviewers to provide real estate appraisals and appraisal reviews for the Department of Natural Resources, Lands and Minerals Division, to facilitate land transactions requiring appraisal services.
Von Ancken, who has three sons and a teenage daughter, says that two of his children have already followed in his footsteps and became real estate appraisals.
The section on real estate appraisals and evaluations has been updated to incorporate this October 27, 2003, interagency statement.
The revisions include raising the dollar threshold for real estate appraisals in partial release situations, and allowing the Agency to release real estate security without appraising the retained real estate in some cases.

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