An appraisal is an estimate of a property's fair market
value as of a specified date.
It may be performed for many reasons including:
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Lenders seeking an assurance of minimum
value when making a loan or mortgage secured
by real estate. |
| • |
Government agencies interested in
determining the value of a property for
establishing a basis for a tax on real
estate. |
| • |
Estates required to establish a value on
real property for taxation and/or
liquidation purposes. |
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Investors wishing to insure that the
properties they are contemplating investing
in are valued sufficiently, and/or produce
an acceptable rate of return. |
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Property owners wishing to place their
property on the market at a price they can
have confidence in. |
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Either side in a divorce settlement where
real property must be valued for either sale
or asset disbursement. |
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Joe Vita is a Certified Residential Real
Estate Appraiser licensed by the State of
Virginia. He has been performing appraisals
for over twenty-five (25) years and has
testified before several courts of
jurisdiction around the state as an expert
witness. He has also served in the past as
an instructor of appraisal and other real
estate related courses for Dabney S.
Lancaster Community College and has
conducted seminars for the Virginia Real
Estate Education Foundation. |
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