The most frequently used services of an appraiser, is estimating current market value of residential properties. Appraisers are professionals and are required to qualify and continually train for a License. There are other valuations by realtors, assessors and computer valuations, but these lack accuracy and although they are often free, they are not used for court work, mortgages, comdemnations, divorce, IRS, Estates, etc etc.
An appraisal requires a physical inspection of the subject and a detailed analysis of the area, the market and recent similiar sales. The value is then checked by using another valuation method such as the cost or income approaches. An appraisal is recognized as the most accurate valuation. A computer or AVM simply can not do the job because every property is different and unique. Assessments are generated by computers and therefore frequently wrong by huge amounts. That is why we need the various Grievance boards, Small claims and Article 7 proceedings to correct assessments. On one property, we were able to lower the assessment by over eight hundred thousand dollars. Advise is free. Call us.
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