Real estate valuation is the process of determining the fair market value of a property.
The real estate valuation process is done by a licensed appraiser and includes a review, analysis and reporting. The valuation report includes an estimate of the property’s value and provides a description of its condition, history and possibilities.
A CMB (Capital Market Boards) licensed real estate appraiser is someone who passes an exam and is approved by the state licensing agency to provide real estate valuation services. Real estate appraisers are also professionals who have met certain education, experience, and examination requirements set by state licensing agencies.
The entire process of appraising a property begins with a valuation request created by a lender, title company, or insurance company. The request contains specific instructions on what information should be collected and how the assessment should be carried out.
After the appraisal is completed, the appraisal report is prepared. It includes all the information gathered during this process and a summary of the findings with details about similar properties, market trends and improvements that can be made to increase the value of the property.
A real estate valuation report is a written document that gives an idea of the value of a property. It also includes an estimate of market conditions and other factors that affect the property’s value. The report provides guidance on how much it would cost to reproduce or replace the improvements if the improvements were destroyed by fire or other disaster.
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Real Estate Valuation Report Request Form