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Valuation Methodologies – The Three Appraisal Approaches

Any involvement of professional assessment directed by the "Scope of Work," which is defined and developed by the evaluator. An important element of the development of the Scope of Work is to identify the right approach to assessment.

Trained, tested, and professional appraiser used three approaches accepted and recognized in the valuation of the property – both real estate and personal property. Examples provided in this article is based on personal property, not real estate. However, you can also get help from Los Angeles property evaluator to asses the actual value of the commercial and residential property.

The third methodology is known as: "and the Cost Approach" "Income Approach," "The Sales Comparison Approach, Valuers and users of valuation services should be aware of this approach and how they affect the assessment process and the development of value conclusions.

Basically there are three general approaches and received a personal property appraiser and appraisal. Each approach (methodology) is determined by the scope of work and the purpose and functions of each engagement assessment.

Three methodologies are briefly described below using one of my favorite collections; moonstones. Moon rocks are not traded on the open market they are also not available for private sale. This is clearly an example of a hypothetical but will provide easily understood examples of three approaches.