The person who performs this real estate appraisal exercise is called the real estate appraiser or property valuation surveyor. The value as determined by real estate appraisal is the fair market value.
Real estate agents generally calculate their fee as a percentage of the selling price (in case of sales) and as part of the rent (for rentals). People, who want to sell/let their property, leave the details of their property with the real estate agent (and in fact, even leave the keys of the house so that the real estate agent can arrange for viewings without them getting into any hassle).
Similarly, real estate investor could do his own real estate appraisal for the expected value of the property in, say 2 years time or in 5 years time. Again, a real estate investor might conduct his real estate appraisal based on what value he/she can create by investing some amount of money in the property i.e. a real estate investor might decide on buying a dirty/scary kind of property (which no one likes) and get some minor repairs, painting etc done in order to increase the value of the property (the value that the real estate investor would get by selling it in the market).
Since real estate agents are probably most familiar with the market situation in their region of operation, it makes sense to approach them to get an idea of the going rate for properties in that region.
Real estate agents would generally know the prices of various properties of different types and at various locations in the region.
However, it is worth noting that real estate agents work on sellers behalf. So, beware if they are trying too hard to sell a property.
A real estate investor will generally base his investment decision on this real estate appraisal that he does by himself (or gets done through someone). So, can we then term real estate appraisal as a really real real estate appraisal?
Real estate investments are often termed as low risk investments that can potentially yield good returns. A lot of people think that real estate is an easy business where you dont really need to do anything. However, the truth is that real estate business does need you to put in some effort (if you really want to make profits out of it). The most important thing is to be able to uncover the real estate for sale that will yield profits. So how do you go looking for real estate for sale?
Open houses are another good way of getting the best out of time. You can get to see dozens of real estate for sale properties in a very short period of time. And you never know when you might come across a property that is real gold. - 29969
Real estate agents generally calculate their fee as a percentage of the selling price (in case of sales) and as part of the rent (for rentals). People, who want to sell/let their property, leave the details of their property with the real estate agent (and in fact, even leave the keys of the house so that the real estate agent can arrange for viewings without them getting into any hassle).
Similarly, real estate investor could do his own real estate appraisal for the expected value of the property in, say 2 years time or in 5 years time. Again, a real estate investor might conduct his real estate appraisal based on what value he/she can create by investing some amount of money in the property i.e. a real estate investor might decide on buying a dirty/scary kind of property (which no one likes) and get some minor repairs, painting etc done in order to increase the value of the property (the value that the real estate investor would get by selling it in the market).
Since real estate agents are probably most familiar with the market situation in their region of operation, it makes sense to approach them to get an idea of the going rate for properties in that region.
Real estate agents would generally know the prices of various properties of different types and at various locations in the region.
However, it is worth noting that real estate agents work on sellers behalf. So, beware if they are trying too hard to sell a property.
A real estate investor will generally base his investment decision on this real estate appraisal that he does by himself (or gets done through someone). So, can we then term real estate appraisal as a really real real estate appraisal?
Real estate investments are often termed as low risk investments that can potentially yield good returns. A lot of people think that real estate is an easy business where you dont really need to do anything. However, the truth is that real estate business does need you to put in some effort (if you really want to make profits out of it). The most important thing is to be able to uncover the real estate for sale that will yield profits. So how do you go looking for real estate for sale?
Open houses are another good way of getting the best out of time. You can get to see dozens of real estate for sale properties in a very short period of time. And you never know when you might come across a property that is real gold. - 29969
About the Author:
I love to to write about real estate and mortgage information. I am also the webmaster of this Dutch website hypotheekrente, it's about hypotheekofferte
