Sales Comparison Approach A. 3. Every state requires real estate agents to have a license — and to take and pass a state examination to get that license. A home appraisal is an unbiased report on the worth of a house in the fair market, performed by a trained and licensed individual. This may or may not be the same as its price. Question 14 14. Divide 640 by that answer, 640 / 32 = 20 acres. Appraisers go under different names depending on where you are in the world; real estate appraiser, property valuer, and chartered surveyor are the most common names. Multiply all denominators together (the bottom number of the fraction): 2 x 4 x 4 = 32. The appraiser gathers information for the appraisal report from a number of sources, but the process often begins with a physical inspection of the property inside and out. Lucy is interviewing real estate agents before she lists her home for sale. If the comparable property is superior in a feature, you subtract value from the comparable. Appraisers generally use this method for commercial buildings such as shopping centers, office buildings, […] Home Appraisals for Dummies. Houses (12 days ago) Real estate appraisal or property valuation is the process of determining what a property is actually worth. A real estate appraiser inspects the property, but this step isn’t the same as a home inspection commissioned by a buyer. 13. A method that will be covered on the Real Estate License Exam for appraising real estate based on its income is known as the income capitalization approach. What is Real Estate Value and Valuation - dummies. The Current Real Estate Market. You need to cover a lot of ground in preparation for the test, but your efforts are well rewarded by a fun, exciting career. Homes appraised during a “seller's-market”, or a market that’s saturated with a ton of buyers and not enough inventory to … One claims to have a 97% list-to-sell average while the other claims to have a 96% list-to-sell average. Appraisals are needed to ensure the homebuyer, the home seller and the mortgage lender receive the accurate and true value of the real estate in question. Receive a free digital download of The Ultimate Beginner's Guide to Real Estate Investing. Start analyzing real estate properties, we do the math for you. Dec 9th 2010 1:43PM. Your house is … Find local real estate meetups and events in your area. Your home is the place you reside in and share with loved ones. Connect with 1,000,000+ real estate investors! by Eric Tyson and Robert S. Griswold Real Estate Investing FOR DUMmIES‰ 2ND EDITION Appraiser ... “Real estate agent”: generic term for person who sells real estate (broker or salesperson) It doesn’t affect the answer. Share. an appraisal. Math Real Property Appraisals Mingle School of Real Estate – 2016 1 Math Relating to Real Property Appraisals 1. 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