Real estate appraisal typically brings to mind a purchase transaction in
which a lender needs an opinion of the value of the security offered for a
proposed mortgage loan. While such financed-sale transactions are certainly
among the more common uses of appraisals, real property valuations are also used
to help set offering or selling prices, to determine a basis for exchanges and
to inform investors whether to purchase mortgages, bonds or other securities.
Appraisals also are used extensively for litigation purposes, particularly in
condemnation and eminent domain proceedings, dispute resolution, and estimating
damages relative to construction defects or environmental impacts. Value
opinions are required for various tax matters including tax assessments, gift or
estate tax determinations, and determining the value of real estate for estate
planning purposes. In addition, appraisal consulting services are beneficial to
the planning and development of real estate projects
