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The most common methods include the following: Comparative Market Analysis (CMA) This method involves comparing the antique to similar items recently sold. CostApproach This method determines the cost of replacing the antique item with a similar one.
Market Analysis: Appraisers analyze the local real estate market, considering factors like supply and demand, market trends, and recent property sales. This analysis helps them arrive at an accurate valuation. Documentation: The appraisal report is a vital document for all parties involved in a real estate transaction.
Rooted in the guidelines set by the Uniform Standards of Professional Appraisal Practice (USPAP), an appraisal report is much more than a simple figureits a comprehensive analysis of the factors contributing to a property’s value.
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