Missouri City Texas Real Estate Appraisals

Certainly not! Only appraisals ordered by a bank on behalf of the customer, will be made public record and viewable by local taxing assessors. An independent appraisal is a useful tool in the task of protesting your real estate tax assessments.

An appraisal report is a much more thorough analysis of the aspects that impact home values. Unlike a real estate broker, the appraiser is mandated by state authorities to have no interest connected with the sale of a house and their service costs cannot be contingent upon the value of the home. Only a Texas licensed appraiser can determine a licensed appraisal. A CMA or BPO is an less detailed approximation of market value, based on comparable property sales in the market, completed by a agent or broker. The most significant variable between a professional appraiser and broker or real estate sales agent is their motive. An agent’s business ambition is to sign a property listing and collect a commission. This could result in inappropriate influence on the agent’s opinion due to the aspiration to gain a customer. A licensed appraiser is unconcerned with the listing and not earning a commission on the sale. The appraiser’s primary objective is that their report is equitable, reported and received by the customer.

In real estate “highest & best use” means the utilization of a home that results in the most value. It is that use, chosen from reasonably anticipated and legal alternative uses, which have been found to be physically possible, appropriately supported and monetarily achievable to conclude the highest possible value.