The Difference Between Real Estate Assessment and An Appraisal

The value of any real estate property keeps fluctuating every day. Some days the value may be going up and on other days the value may be coming down. Those involved in a real estate transaction of buying or selling a property have to depend upon the evaluated value of the property to ascertain the exact amount of money that needs to be offered or demanded for that property. This value of the property is determined by the assessment and the appraisal methods, though both these methods of evaluation of the value of the property are entirely different from each other in terms of the objective and in their procedure. Assessment is a process that the municipal government uses to determine the average value of the property. It is used for imposing the property tax by...

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