Appraiser


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Appraiser

A person selected or appointed by a competent authority or an interested party to evaluate the financial worth of property.

Appraisers are frequently appointed in probate and condemnation proceedings and are also used by banks and real estate concerns to determine the market value of real property.

appraiser

n. a professional who makes appraisals of the value of property. Some specialize in real property, and others in other types of assets from rugs to rings. A careful, well-trained and practical appraiser may be more important than any other professional in a transaction, since one who grossly undervalues or overvalues property (or has no knowledge of true value) can wreak havoc. Where possible, a person should ask for a profile of other clients and training, and ask whether the appraiser is "MAI" (Member, Appraisal Institute). (See: appraise)

See: juror

APPRAISER, practice. A person appointed by competent authority to appraise or value goods; as in case of the death of a person, an appraisement and inventory must be made of the goods of which he died possessed, or was entitled to. Appraisers are sometimes appointed to assess the damage done to property, by some public work, or to estimate its value when taken for public use.

References in periodicals archive ?
The motivating intent behind the mission is explained through the coalition's vision statement, "to protect the public from the risk and abuse of unqualified individuals performing personal property appraisals; to bring the Appraisal Foundation's AQB (Appraisal Qualifications Board) standard to the forefront of public awareness; and to raise the profile of the credentialed personal property appraiser.
I think it's needed,'' said Brian O'Neill, managing director of the San Jose-based California Association of Real Estate Appraisers.
Often, the appraiser can give the customer a check on the spot by extracting the appraisal information to a check-writing system and printing a check from a laser printer in the van.
Likewise, the appraiser should assume that a covenant not to compete exists and therefore not discount the value for reliance of the business on the personal attributes of the controlling shareholder.
Numerous other situations may warrant hiring an appraiser, but today's regulatory environment warrants caution in some areas.
While appraisers are often accused of giving clients whatever answer they want, the truth is that we always determine first the purpose for which the value information is going to be used.
The computer could generate ratios, trends, growth patterns and comparisons with historical averages to assist the appraiser in the process of business valuation analysis.
Title XI contemplates that the states will establish appraiser certification and licensing agencies, as well as set minimum requirements for individuals who are qualified to perform appraisals in connection with federally related transactions.
In the real estate discipline, the appraiser deals in the valuation of land, improvements, and associated rights.
If the appraiser is on target, bankers know the value of the property will be enough to cover the loan in the event the borrower stops paying.
Choosing the most qualified appraiser for the job should be the number one criteria in making your selection.
If we get the best appraiser up front, then the appraisal tends to be supported in the end," says Curt R.