Although requirements may vary by state, certified appraisers and assessors of residential or commercial property usually need at least a bachelor’s degree. College courses in subjects such as economics, finance, mathematics, computer science, English, and business or real estate law can be useful for prospective appraisers and assessors.
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An appraiser has a responsibility to be correct in evaluating data and not to allow other factors to influence evaluation of property. The appraiser must be a neutral party, not allow people with special interests to influence his or her judgment.
But if you need a valuation for insurance or for selling a business, you will need an outside independent appraiser. If your business is a corporation or partnership, or if you have multiple subsidiaries or other complex situations, you will definitely need the services of an inddpendent appraiser.
The point all of the presenters were trying to make is that the appraisal industry is changing and must continue to change in order to not only survive, but to thrive. The session began with the distribution of a reprint of a press release covering proposed new legislation that would be very damaging to the appraisal industry.
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A real estate appraiser estimates the value of a single building or piece of land. His or her job is similar to that of an assessor, who instead considers the values of several properties at once.An appraiser may specialize in either commercial or residential property.
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The industry is in dire need of government assistance, particularly with reduction in overall indirect tax burden which is highest in the region, support in the development of local coal mines and thereby reduce the dependence on imports, cement / clinker export terminals, along with provision of freight subsidies and increase in export rebate, to help producers compete on an international level.
Appraisal Management Company – AMC: An Appraisal Management Company, or AMC, is an independent entity through which mortgage lenders order residential real estate valuation services for properties.