Real Estate Appraisers in Missouri City Texas

Typically, highest & best use means the use or utilization that provides the most profitable return on investment. For a highest and best use to be acceptable it must be legally permissible, physically possible, and adequately supported when all legal and probable alternatives are considered.

Real estate makes up the largest asset class in the world, making the proper valuation of it essential to the global economy. Real estate appraisers utilize many different methods to determine the current market value of a property. The appraiser’s professional opinion acts as a hedge against risky investments or purchases within current market trends. And because the appraiser is trained to be an impartial third party in the lending process, this profession serves as a vital “check in the system,” protecting real estate buyers from overpaying for property as well as lenders from over lending to buyers.

A “Fannie Mae” – URAR form report has many items required by the secondary mortgage lending market, that are not necessarily needed in a simple report to find the market value. The most fundamental way to determine market value is to compare the subject property to recently sold homes in a given neighborhood. The lender required 1004 form often has additional requirements to satisfy lender security which is not necessary information for a private appraisal client. An example of this extra data would be census and SMSA information which is strictly for lender’s internal tracking of loans. Our general purpose form reports are particularly well suited for helping a seller to price a home for sale, helping a buyer to decide how much to offer or pay for a home, for estate tax, gift tax, tax grievance, uncontested divorce & most any other potential use other than for obtaining a mortgage or in litigation where the report will be used in conjunction with expert testimony.