Our first responsibility is to examine the land and home to gather information on its existing status. During this land appraisal it is our job to inspect several aspects of the property, including the location, the property, all buildings on the property and details of the home like the number of bedrooms and bathrooms. Using a sketch is one way that some assessors show the actual square footage, layout and floor plan of a property. A high priority for the assessor is to note any defects or issues that might affect the properties value.
After the inspection process finishes it is time for us to use a variety of analytical approaches to decipher the value of real property. Some of our standards include an income approach (in the case of rental properties), a paired sales evaluation, and a replacement cost calculation.