The appraisal process can cause delays in a propertys
development or sale, according to an article published Dec. 14 in
The Appraisal Journal, which reinforced the need to have appraisers
with local market knowledge provide reliable opinions of value
especially in the current market. The Appraisal Journal is the
quarterly technical and academic publication of the Appraisal
Institute, the nations largest organization of real estate
appraisers. Project Delay Economics, by Randall Bell, MAI, looks at
what can happen to the value of property when a real estate
transaction or project is delayed. Delays can arise from any number
of reasons, from construction issues to legal issues.
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