Atlanta real estate appraisal is a must before you buy or sell a piece of property. Real estate appraisal or property valuation is the process of determining the value of the property on the basis of the highest and the best use of real property, which basically translates into determining the fair market value of the property. The person who performs this appraisal is called the real estate appraiser or property valuation surveyor. The value as determined by real estate appraisal is the fair market value. The appraisal is done using various methods and the appraisal values the property as different for different purposes, for example, the real estate appraisal might assign 2 different values to the same property, improved value and vacant value, and again the same property might be assigned different values in a residential zone and a commercial zone. However, the value assigned as a result of the appraisal might not be the value that a real estate investor would consider when evaluating the property for investment. In fact, a real estate investor might completely ignore the value that comes out of the entire process.
A good real estate investor would evaluate the property on the basis of the developments going on in the neighborhood in Atlanta. So real estate appraisal as done by a real estate investor would come up with the value that the investor can get out of the property by buying it at a low price and selling it at a much higher price. Similarly, the investor could do his own real estate appraisal for the expected value of the property in, say 2 years time or in 5 years time. Again, a real estate investor might conduct his appraisal based on what value he or she can create by investing an amount of money in the property. For instance, a real estate investor might settle on buying a run down property and have some minor repairs, painting and recarpeting, done in order to increase the value of the property (the value that the real estate investor would get by selling it in the market). So, here the meaning of real estate appraisal changes completely and can be very different from the value that real estate appraiser would come out with if he conducted an appraisal on the property.
A real estate investor in Atlanta will generally base his investment decision on the real estate appraisal that he does by himself rather than the value givin to the property by the appraiser.
