What is the duty of lee county property appraisers? The duty of Appraisers is to ascertain the market value of your real estate property. They must determine its worth in accordance with the law and guidelines prescribed by the county's Appraisers Certificate Board.
There are different types of appraisers who perform different types of duties. Appraisers can find a property to buy, sell or lease. They inspect for defects and make recommendations. Appraisers play a vital role in a real estate transaction by providing advice that may save you thousands of dollars!
What you need to know
When Appraisers come to assess the value of your property, they do not become creditors, although they will be responsible for collecting payments. The duty of Appraisers is not limited to real estate transactions. They also inspect motor vehicles, boats, aircraft, machinery, computers, jewelry, paintings, and other items for which there is a market. There are some Appraisers who have additional certification and certifications that allow them to inspect for other types of goods including building components and food products.
Appraisals must be done correctly and in a timely manner. This is why the county has set down guidelines for proper appraisals. You must hire an Appraiser who has met those guidelines or face discipline from the County.
How are appraisals determined? Appraisals must be done by qualified and licensed Appraisers. Appraisal duties vary by type of real estate transaction. These include: lease/ Rentback, purchase, foreclosure, bankruptcy, government guaranteed, open market and private sale. A real estate broker is not qualified to do business with any specific type of transaction under any circumstances.
Appraisers also have a duty to give their clients complete and accurate information about their findings. If a report is not complete and accurate, the client may be obligated to pay for an appraisal further to verify the lack of comparative value. Some counties will not allow their real estate agents to give any more information than is required in the sales contract. Others will not let the seller know about deficiencies unless it is brought to the attention of the seller by the Appraiser.
What is the duty of Appraisers if they are not registered agents?
If real estate agents are not properly licensed in Texas, they cannot perform Appraisals on their own. Because they are not legally permitted to give a non-binding opinion, they cannot make a recommendation that will hold up in court.
The duty of Appraisers is something that can be tricky. Sometimes they are overworked and they have a hard time getting the job done in a timely manner. In short, what is the duty of Appraisers depends on the situation. The best thing for a realtor to do is to check into the situation before hiring one. This can help ensure the best real estate agent is hired.
What is the duty of real estate brokers?
Brokers are not permitted to perform Appraisals themselves. If they are, they must advise the Appraiser and they must keep notes of every conversation. Because they are not licensed to work independently, they cannot make a recommendation that holds up in court.
What is the duty of appraisers in private companies? This is where a lawyer might be needed for the Appraiser, as some companies might try to influence the Appraiser by having certain ideas. Normally, what is the duty of the Appraisers in private companies is to simply look at the books and do what is necessary.
What is the duty of Appraisers when working for a government agency? The Appraisers will have an agreement with the City and County to abide by and they have to follow those agreements. What is the duty of public agents when they are working for the Government? They have to follow the laws that are set forth and they must always report anything that they find to be worth an investigation or further study.
What is the duty of real estate brokers? They are licensed by the State and must report their findings to the Appraisal Commission. What is the duty of appraisers when working on a contract basis? The report is to be sent to the client and they are under no obligation to do an investigation. They just follow what the contract requires and that is what is the duty of the Appraisers.