ap·prais·al– the act of formulating an estimate or judging the nature of value of something or someone.
The act or process of developing an opinion of value specific to real estate. Professional Real Estate Appraisers develop opinions of value and assist in various decisions about real estate including consultation. Standards for the appraisal profession are set forth in the Uniform Standards of Professional Appraisal Practice (USPAP) developed by the Appraisals Standards Board of The Appraisal Foundation. As stated by USPAP, an appraisal involves selective research into appropriate market areas, the gathering of relevant data, the use of properly applied approaches to value, and the application of knowledge, experience, and professional judgement.
According to The Appraisal of Real Estate 13th Edition, appraisal reports are the written or oral communication of an appraisal; the document transmitted to the client upon completion of an appraisal assignment. The Market Connection LLC has an exceptional reputation for delivering fair, unbiased appraisal reports in a professional and timely manner. We specialize in preparing written narrative reports for commercial real estate that comply with the requirements of the Uniform Standards of Professional Appraisal Practice (USPAP). We offer both types of written narrative reporting options including Appraisal Reports and Restricted Appraisal Reports. In addition to commercial real estate we have a vast knowledge of the residential market and prepare several types of residential reports.
The Market Connection provides appraisal services for the following clientele:
- Banks/Financial Institutions for mortgage lending and management purposes.
- Governmental agencies for state and federal grant purposes and for acquisition purposes.
- Attorneys for estate planning purposes.
- Corporations/Developers/Individuals for buy/sell decisions and asset evaluation purposes.
Market value types include:
- Current market value
- Retrospective market value
- Prospective market value