Business At A Glance
Startup Costs: $10,000 – $50,000
Home Based: Can be operated from home.
Part Time: Can be operated part-time.
Online Operation? No
Real estate appraisers are specialists in estimating the value of landand the structures on that land. Real estate appraisals are commonlyrequired when people buy a home, sell a home, apply for or renew amortgage, for insurance purposes, to settle estates, and to settledivorce cases.
It is the job of the real estate appraiser to prepare awritten description of the property, and draw a diagram of the propertythat shows structures. Appraisers must also verify legal descriptionsof the property with county or city records, along with an estimatedmarket value. Fair-market values are based on factors such as propertycondition, the values of homes in close proximity, and buildingreplacement costs, using building valuation manuals and professionalcost estimators.
Homeowners, mortgage brokers and escrow companies. The key to successin this industry are alliances. You need to build working relationshipswith other professionals who commonly need, or whose clients need, realestate appraisal services. These professionals include mortgagebrokers, bankers, real estate brokers, real estate agents, and realestate lawyers.