By: Benedict F. Baluyut, REB, REA
A years ago, we have had received a
numerous requests from would be clients who asked for our professional
services in determining the value of their properties for use in
different types of requirements. Some of our friends in the industry or
most of the time our clients are asking for hypothetical estimate or
Broker’s Price Opinion (BPO) which is cheap and fast but not that as
accurate and precise as with a formal appraisal report determined by a
seasoned
real estate appraiser.
Real estate appraisal have very useful
functions especially in determining the Fair Market Value (FMV) of a
property for the purposes of tax payments required in Bureau of Internal
Revenue, personal records of a client in the process of selling or
lending confirmed offered price of real property, offering subject
property for sale, settlement of disputes involving real estate
properties and documentary requirements for support visa application /
immigration and many more.
