Outline the difference between an appraisal and a valuation.

A real estate appraisal is required to determine the

or rental return of

$.$ It is used to assist

in making a decision to proceed with a transaction.

An effective

begins with a

asking just what the purpose of the appraisal is$.$ There are times when an

is not sufficient, and a

is called for.

Valuers are

who hold a

to carry out the work that they do and charge for their services $$ there are specific

$,$

$,$ and

for providing a $$valuation$$ as opposed to an $$appraisal$.$