Bowditch and Perkins | Maine Real Estate Appraisals / Appraisers

Bowditch & Perkins
568 Waterville Road
P.O. Box 1020
Skowhegan, Maine 04976
Phone: (207) 474-4705
Fax: (207) 692-1008
info@maineappraisals.com

THE REAL PROPERTY VALUATION PROCESS

DEFINE THE APPRAISAL PROBLEM

Identify And Locate The Real Estate
Identify the Property Rights to be Valued
Establish Date(s) of Value Estimate(s)
Identify the Use of the Appraisal
Define Value(s) to be Estimated
Identify Limiting Conditions or Limitations

PRELIMINARY ANALYSIS AND PLAN; SELECT AND COLLECT DATA
General Market	Subject Property	Competitive Properties
Market Analysis	Property Analysis	Comparison Analysis
Demand Components	Site / Improvements	Sales
Supply Components	Size	Rentals
Trends	Age and Condition	Costs
Forecasts	Location	Elements of Comparison Legal
		(Title, use) Units of Comparison

ESTIMATE HIGHEST AND BEST USE

Land as if Vacant and Available
Property as Improved (Existing or Proposed)

ESTIMATE LAND/SITE VALUE (AS DEFINED)
Sales Comparison	Income	Subdivision/
	Capitalization	Development

ESTIMATE IMPROVED PROPERTY VALUE (AS DEFINED)
Cost	Sales Comparison	Income Capitalization

RECONCILE VALUE INDICATORS;
REACH DEFINED VALUE ESTIMATE

REPORT ESTIMATE(S) OF VALUE(S) AS DEFINED