Property appraisals are performed to set the value of all real and tangible properties within the jurisdiction of a county or municipality. Property appraisers are not responsible for determining the amount of property taxes to be paid, but rather place a fair market value on the property. Taxing authorities set the tax rates and assess taxes on all property, and the appraisers’ task is to value the property in a manner consistent with this rate and amount.
A home appraisal typically costs $300 to $450, depending on the location and size of the property. You should always ask whether the appraiser works on a flat fee or by the hour. After the appraiser has completed the appraisal, the lender will review the file and determine the risk involved in extending the loan. If the appraiser finds that the value is low, he or she may need to delay or even cancel the transaction. This is not a good situation for either party.
Before a person can become a property appraiser, they must first complete the proper education and training. In general, a property appraiser must be a graduate of an accredited university or college epc edinburgh. In addition to this, he or she must possess excellent math skills and possess good record-keeping skills. An appraiser must also be methodical and problem-solving. Finally, he or she must have the ability to manage a workload and maintain a positive attitude.