Exercises to the text:
Exercise 1. Make up all kinds of questions to the sentence.
1._________________________________________________________________
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Exercise 2. Make up sentences using these words and translate your own sentences.
damage appraisal odd detail-oriented work
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Черкаський політехнічний технікум Для студентів III курсу, група ОД
Text № 15. Викладач Кособокова А.В.
Text 16
What is the Meaning of the Appraisal Value of a Home?
An appraisal determines a home's value.
The appraisal value of a home is a professional price opinion at a given moment in time. Banks and mortgage lenders use appraisal values in deciding whether to approve mortgages or equity loans.
Process
An appraiser examines the property inside and out, gathers information and takes pictures of the home and neighborhood. He then researches recently sold properties and those currently for sale that are comparable to the property being appraised. From that research, he compiles an appraisal.
Черкаський політехнічний технікум Для студентів III курсу, група ОД
Text № 16. Викладач Кособокова А.В.
Influencing Factors
The appraisal value can be affected by market conditions, the condition of the home, the location of home, and the skill and experience of the appraiser.
Appraisal Report
An appraisal report includes the data used to formulate the appraised value, an explanation of market and neighborhood conditions, supporting photos and data on comparable properties, and the credentials of the appraiser.
Licensing
States require appraisers to be registered and licensed, a process that involves education and apprenticeship time.
Time Frame
The appraisal value will determine what your house is worth based on conditions at the time the appraisal is done. While appraisal value and data can sometimes be used for up to a year, even a 90-day-old appraisal may be meaningless if market conditions are volatile.
Word List:
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mortgage lender |
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equity loan |
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comparable |
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to compile |
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appraisal report |
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credential |
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to require |
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apprenticeship time |
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meaningless |
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volatile |
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Черкаський політехнічний технікум Для студентів III курсу, група ОД
Text № 16. Викладач Кособокова А.В.