Question

What is the primary role of the real estate appraisal? What are the currently accepted four methodologies for appraising real estate? What role does market value and agreed contract price play in the process? (CLO 5)

Answer 1

Solution:-

At the time of purchasing or marketing or protecting the home, the area of land, financial asset and more, We want to estimate the market price of so property. Real estate assessment represents an important part in perception/evaluation of the market worth of property (human, land or building household rather any business property)
4 ways for real estate evaluation:-
a). Comparative process.
b).Profit method.
c). Investment method.
d). Cost method.
periodically accepted settlement charges may vary of the market value of the property. periodically, the buyer assumes market value too huge to own or trader believes that there is required money want to him, therefore, the property can be traded at lesser than market value depending on different factors. Consequently, accepted contract amount (last transaction price) also market value are the couple most critical characters to be viewed in real estate assessment.