Real estate appraisal

Author: Zhao Caifu / Zhao Xiaohong (editors)
Publisher:
Publish Date: 2004-11-01
Features: Real estate appraisal refers to the process of determining the reasonable price that a specific right in real estate may achieve at a particular time, based on the object of appraisal, adhering to appraisal principles, following appraisal procedures, employing scientific appraisal methods, and combining appraisal experience with an analysis of factors affecting real estate prices. Real estate appraisal is both a science and an art. On one hand, it must rely on a rigorous set of real estate appraisal theories and methods, but it cannot be completely rigid in adhering to them. On the other hand, it must also depend on the experience of the appraiser, because the factors influencing the formation of real estate prices are complex and ever-changing, and cannot be calculated by anyone using certain formulas. When conducting a specific appraisal, the characteristics of the real estate in question and the potential influences of all factors in the real estate market should also be considered. This book comprehensively introduces the theoretical foundation and methods of real estate appraisal. First, starting from the basic characteristics of real estate and combining the actual situation of real estate appraisal in China, it systematically elaborates on the fundamental theories of real estate appraisal. Then, based on the basic approach to the formation of real estate prices, it introduces in detail the commonly used methods in current real estate appraisal, such as the market comparison method, the income capitalization method, and the cost method. Finally, after introducing the basic procedures of real estate appraisal, it uses case studies to illustrate the entire process of real estate appraisal practice.