A Professional Appraisal: Your Independent & Objective Opinion
Clients hire professional appraisers for their independent & objective opinions, not to rubber-stamp predetermined sales prices, lending values, assessment values, cost estimates by builders, reconstruction cost for damaged properties, or market values for third party uses such as the income tax department or financial projections. As mentioned in the previous section, a professional appraiser treasures his/her credibility and likewise his/her right to have an independent and objective opinion regarding the value of the particular property that he/she is appraising. This opinion may or may not confirm another party’s estimate of value, such as: a sales price, a lender’s indicated loan value, an assessment value, a cost estimate by a builder, or a price on a private or MLS listing. Where another person’s estimate of value accurately reflects current market value, the two should be in alignment.