In real estate appraisal, the adjusted sales price refers to the indicated price of a comparable property after adjustments have been made to account for differences between comparable and subject properties.
An appraiser provides a professional opinion on the value of a property. Certification for real estate appraisers in the United States includes CERTIFIED GENERAL APPRAISER and CERTIFIED RESIDENTIAL APPRAISER, among others. Appraisers must fulfill educational, experiential, and examination requirements.
In the context of real estate, a client is an individual or entity that engages a broker, lawyer, accountant, appraiser, or other professional to represent their interests in a transaction.
Standard of care refers to the level of diligence, caution, and professionalism expected from real estate brokers, agents, and appraisers in their professional activities.
