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Residential Property Appraisal
Residential Property Appraisals Appraisals of houses are often needed for judicial proceedings. This includes estate planning, filing estate tax returns, divorce and civil disputes regarding construction defects and fraud. Carefully define the purpose of the appraisal and the scope of work with your appraiser prior to entering into an engagement. The scope of work needs to be tailored to the purpose of the house appraisal.
Home appraisals are time sensitive and critical to financing your home. Numerous requirements must be fulfilled to close the purchase or refinancing of a house. While most house appraisals are to document the value when purchasing or refinancing your house, there are many other reasons appraisals of homes are required. These include estate planning, intra family sales, estate taxes, divorce and expert witness testimony regarding litigation. Appraisals of homes for expert witness testimony require a higher standard of care than routine appraisals. All data should be verified and the circumstances of each sale should be reviewed. The final report should be checked and double checked to avoid any math or typographical errors. We understand timely, accurate, and well documented appraisals are essential in each situation. The accuracy of the appraisal depends on the quality and quantity of available data and the skill and judgment of the appraiser. Appraising highly atypical properties foe which there are few or no comparables is difficult and complex. The more atypical the property, the more difficult the assignment and the less reliable the result. Single Family Report Types Homes, Condos, Townhouses and 2 - 4 Family Dwellings in Harris, Montgomery, and Fort Bend Counties. These are our primary service areas. For specialty appraisals of unique properties or litigation engagements, we accept to engagements outside this geographic area.
For more information e-mail George Thomas or call 713-686-9955.Appraisal Fax: 713-686-8336 O'Connor & Associates is a national provider of commercial property real estate consulting services including cost segregation studies, market research, property tax appeals, due diligence, insurance valuations, abandonment studies, business personal property valuations, commercial appraisals, financial modeling, highest and best use analyses, and lease audits. Our services benefit owners of all commercial property types including multi-family housing, retail stores, hospitals, hotels, industrial properties, manufacturing facilities, medical offices, commercial offices, restaurants, self-storage units, shopping malls, shopping plazas and warehouse/distribution centers.
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Article Tags: Due Diligence, Cost Segregation Studies, Insurance Valuations, Abandonment Studies, Business Personal Property Valuations, Commercial Appraisals, Financial Modeling, Highest And Best Use Analyses, And Lease Audits Article Source: http://www.articlesbase.com/business-articles/residential-property-appraisal-290558.html About the Author:
Patrick C. O'Connor has been president of O'Connor & Associates since 1983 and is a recipient of the prestigious MAI designation from the Appraisal Institute. He is also a registered senior property tax consultant in the state of Texas and has written numerous articles in state and national publications on reducing property taxes.
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