Who is an Appraiser?
An appraiser is a specialist who has the experience and professionalism needed to determine the worth of an asset, or the probability of an event happening, and the cost of such an event. Ideally, an appraiser performs the asset appraisal independently of the marketing and trading parties in a transaction to arrive at the appropriate value of an asset without bias.
Appraisers are helpful when trying to attach importance to things such as gold, art, gems, family heirlooms, and properties. In most significant examples, an appraiser will use their time and skill to determine the price of each property at a time.
A specialized appraiser’s expertise is in making their evaluations in a particular area of real estate. For example, a commercial appraiser could focus on the market for office buildings, hotels, retail locations, and other investments that include an income making quality. Residential appraisers are more focused on properties that individuals and households are domiciled which can consist of condominiums and single homes. Typically a residential appraiser works with features with no more than four housing units. Larger scale properties, such as multiunit apartment buildings, would likely be classified as a commercial property for an appraiser.