They may also be required in divorce actions, when partnerships are dissolved, and when property is listed as a business asset. Appraisers, especially independent fee appraisers, may give expert testimony in court. They may also act as consultants. Real Estate Appraisers prepare a written description of the property and make an estimate of its value. They may complete standardized checklists as they evaluate the property and the neighborhood in which it is situated.
Appraisers obtain land values from county sources and sales information about nearby properties.
They also examine the income records and operating costs of income properties. Appraisers estimate building replacement costs using building valuation manuals and professional cost estimators. They also verify legal descriptions of property with county records, measure the property and compare the measurements with the legal descriptions. They draw land diagrams and note conditions and special features of buildings. Appraisers analyze and evaluate the data and prepare a written report outlining methods by which the fair-market value was estimated.