Property valuation appraisal report- a document with information of supportive value, collected by an independent appraisal company in agreement with the conditions of the legislation on appraisal conditioning and containing information about the request value of the object under study.
You need to understand that an appraisal report isn’t a simple logical report that determines the value of an object grounded on a study of the current request, but a sanctioned document attesting to this price.
An independent assessment may be demanded in the following cases
• Buying or dealing with real estate.
• Registration of insurance.
• carrying a loan from a bank secured by a property.
• Resolution of other controversies.
Both in these and some other cases, it may be necessary not to simply determine the request value, but to validate it.
Speaking about how much an appraisal report is done by professional pundits, it’s insolvable to determine a single term for all cases. Depending on the complexity of the work and other features, it may vary, but on average it takes about 3 days. At the same time, documents in paper form are drawn over longer than in electronic form.