Property Appraisal

Property appraisers are expert estimators and assessors of the values of real estate. They do this for a variety of purposes, including to assess property tax, to identify and confirm adequate collateral for mortgages, to help set the proper sales price of a piece of real estate, to settle an estate, and to give aid in the settlement of a divorce. Property appraisers often specialize in assessing certain types of real estate, such as residential buildings or commercial properties, though they may be called upon to estimate and appraise with accuracy the value of any type of real estate. This could range from simple farmland to a major shopping complex of vast size. Property appraisers appraise properties individually, one at a time. Assessors, however, estimate the value of all properties in a locality for the purpose of property tax. Property appraisers and assessors use similar methods for appraising and assessing all types of real estate, and generally work in a region and community where they understand any related environmental conditions that can affect the value of a property. Property appraisers and assessors are often hired by individual clients and also by the government.