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Real Estate Appraiser

About Startup Costs

The startup costs provided in this database include an approximate financial investment that will be needed to start the business. This is generalized information and should only be used as a yardstick to determine business startup costs. Your investment will vary based on factors such as equipment, transportation, licensing and permits, operating location, working capital and initial marketing and advertising budgets. Remember a successful entrepreneur is one who carefully researches and plans every aspect of a new business venture, including the financial investment needed to start a business and the working capital required to achieve positive cash flow.

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Business At A Glance

Real Estate Appraiser

Startup Costs: $10,000 - $50,000
Home Based: Can be operated from home.
Part Time: Can be operated part-time.

About

Franchises Available? No
Online Operation? No

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Good with numbers and values? Start a real estate appraisal business.

Business Overview

Real estate appraisers are specialists in estimating the value of land and the structures on that land. Real estate appraisals are commonly required when people buy a home, sell a home, apply for or renew a mortgage, for insurance purposes, to settle estates, and to settle divorce cases. It is the job of the real estate appraiser to prepare a written description of the property, and draw a diagram of the property that shows structures. Appraisers must also verify legal descriptions of the property with county or city records, along with an estimated market value. Fair-market values are based on factors such as property condition, the values of homes in close proximity, and building replacement costs, using building valuation manuals and professional cost estimators.

The Market

Homeowners, mortgage brokers and escrow companies. The key to success in this industry are alliances. You need to build working relationships with other professionals who commonly need, or whose clients need, real estate appraisal services. These professionals include mortgage brokers, bankers, real estate brokers, real estate agents, and real estate lawyers.