Concept Appraisals
OCTOBER 6, 2023
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.
International Society of Appraisers
MARCH 14, 2025
You need to analyze comparable sales data in the most common market where transactions to the public most frequently occur. the market in which sales to the public most frequently occur). Consider the purchase prices and comparable sales first. As appraisers, we are market researchers. You do not choose one of the four options.
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Drishti LLC Appraisers
APRIL 16, 2021
For example, a client cannot use a restricted appraisal as a basis for a sales price with an auction house or antique dealer. Comparables for Fair Market Value are relatively recent, actualized sales of pieces by the same artist or artwork of a similar renown, era, materials and genre. It is for your information only.
Prime Appraisals
NOVEMBER 15, 2023
These factors include the property's condition, location, recent sales of similar properties, and local market trends. 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.
Concept Appraisals
MAY 31, 2023
The market analysis goes a step further, studying the broader real estate market trends in the area, such as supply and demand dynamics, pricing trends, and the pace of sales. Approaches to Value : The appraiser uses one or more established methodologies to arrive at a property’s value.
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