What are the Job Duties of an Appraiser?

Answer:
The job duties of an appraiser involve estimating the worth of a real estate property.

Also called real estate appraisers, appraisers must understand the real estate market in order to analyze and determine the value of a home or business. Appraisers can be hired to determine worth for insurance reasons, for tax-deductible donations, for estate taxes, or in a division of assets.

An appraiser presents an appraisal report to the client. This report includes information such as the location of the property, the estimated value, the date, and the purpose of the appraisal. An appraiser can conduct an appraisal in a few different ways. A direct comparison appraisal estimates how much money a buyer would get for a similar property, by comparing selling prices. A cost approach method of appraisal involves the appraiser calculating how much it would cost to build a new structure similar to the appraised property, taking accumulated depreciation and land value estimation into account. Finally, an appraiser might use the income method of appraisal, calculating the amount of income a property could bring in.


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