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What You Need to Know about Condemnation in Appraisals

Concept Appraisals

The fair market value is generally determined based on comparable sales of similar properties, income the property generates, and the cost of replacing the property minus depreciation. These are commonly referred to as the Sales Comparison Approach, Income Approach, and Cost Approach respectively.

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Choosing the Right Appraisal Professionals for Accurate Property Valuation

Prime Appraisals

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. Report Generation: Once all data is collected and analyzed, appraisal professionals generate a detailed appraisal report.