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Chapt 11

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Related Documents
  Real Estate Appraisal    Chapter 11    Real Estate Appraisal    ã Understanding the Appraisal Profession  –  FIRREA  –  State requirements ã Licensed appraisers ã Certified residential appraisers ã Certified general appraisers  Real Estate Appraisal    ã What is Value?  –  Investment value ã The value of property to a specific investor  Real Estate Appraisal    ã Market Value  –  The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby:  
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