Property Presentation - Assignment

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Added on 2020-12-09

Property Presentation - Assignment

Added on 2020-12-09

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PROPERTYPRESENTATION TASK-3

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1The way to establish purpose of property appraisal with customers in line with legislativerequirements and agency........................................................................................................1Communication method used to access additional information to complete appraisals........1Source documents required for determining property ownership..........................................2Method of appraisals..............................................................................................................2Justification of selling price....................................................................................................3Specialist support to increase effectiveness of property appraisal.........................................3Feedback from colleagues, supervisors and classmates to make adjustments in work..........3Ensuring property records safety for the customer confidentiality as per legislative and agencyrequirements...........................................................................................................................4Risk management strategies to appraisal processes...............................................................4REFERENCES................................................................................................................................5

INTRODUCTIONEffective management of property appraisal is important in order to produce qualityappraisal towards customer. The report will present the way to establish purpose of propertyappraisal with customers, Communication method used to access additional information, Sourcedocuments required for determining property ownership, Method of appraisals, Specialistsupport to increase effectiveness of property appraisal, Ensuring property records safety for thecustomer confidentiality as per legislative and agency requirements and finally Risk managementstrategies to appraisal processes.MAIN BODYThe way to establish purpose of property appraisal with customers in line with legislativerequirements and agencyProperty appraisal are performed for lending purpose. Owners of property must be awareof current real estate rules, regulations and legislation incorporating in Australia. The lendermust need to contact the appraiser and check the appraisal process. As per these regulations thelender or client and appraiser must be engaged by the lending institution. Establishing most likely selling price range or leasing price in the current marketThe property is a residential house of Rosanna Danna located in 91142, West Street, Redbud NC Australia 28801. The house was built with actual cost of $200000 including all theelements such as material, labour cost, architecture cost and others. The current rate, whereproperty is established is running $2700/sq. ft. The property has been used since 1998 (Chen andZhu, 2017). There are some defects in property such as lose mortar, some leakages and sealingwhich can be repaired with a total cost of $9000 easily. The property is located in the best area itwill be beneficial for any customer to make profits in future from rent, sale or development aswell. Highest and best use of propertyOwner can rent the portion or complete property in order to earn income from theproperty. It is located in renowned area of North Carolina, Australia. The ways of transportationsuch as airports, bus stands and railways are nearby from the location of residential house. 1

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