AKENTEN APPIAH-MENKA UNIVERSITY OF SKILLS TRAINING AND ENTERPRENEURIAL DEVELOPMENT

COURSE CODE: EDC 351

COURSE TITLE: GUIDANCE AND COUNSELING

LECTURER: MRS. GRACE YEBOAH

GROUP ONE
NAMES INDEX NUMBERS SIGNATURE

AGYEI GODFRED 5201040801

APPIAH SULEMANA 5201040802

NANA YAA AGYEIWAA 5201040803

NTIAMOAH RICHARD 5201040804

BONSU PATIENCE 5201040805

APPAU ERNEST 5201040806

AGYEI N. DAVID 5201040808

HUDU ABDUL NASIR 5201040809

BRAFO O. CHRISTABEL 5201040810

ATIMPALAGA JOSEPH 5201040900

 APPRAISAL SERVICES

Introduction

Appraisal services are an important way for property owners to determine the value of their assets or

properties. An appraisal is an unbiased and objective opinion of a property or asset's value, which is

determined by certified appraisers using various valuation methods and market analysis. Appraisals are often

required for various purposes such as buying, selling, leasing, insurance, taxation, and financing. There are

various types of appraisal services available, depending on the property, purpose, and client's needs.

Appraisals can have advantages and disadvantages, and it is important to select a qualified and experienced

appraiser who can provide reliable and accurate opinions.

 TYPES

There are various types of appraisal services available, depending on the purpose, property, and client's

needs. Some of the common types are:-

1. Real estate appraisal: This is the most common type of appraisal that involves the valuation of real

property such as land, buildings, and homes. It includes market analysis, property inspection, and the use of

various valuation methods such as comparable sales, income, and cost approaches.-

2. Personal property appraisal: This involves the evaluation of personal assets such as art, antiques, jewelry,

furniture, and other collectibles. It requires specialized knowledge and expertise to determine the value of

these items, which can fluctuate based on the demand and supply in the market.-

3. Business appraisal: This involves the valuation of a business or company that includes assets, liabilities,

earnings, and other factors that determine the company's worth. It is important for mergers and acquisitions,

financing, and tax purposes.-

4. Machinery and equipment appraisal: This involves the valuation of machinery, equipment, and other assets

used in manufacturing or construction industries. It requires knowledge of the equipment's age, condition,

usage, and depreciation rates.-

5. Agricultural appraisal: This involves the valuation of farmland, crops, animals, and other agricultural

assets. It requires knowledge of the local market, soil quality, weather conditions, and other factors that affect
 ADVANTAGES

1. Appraisal services help property owners to determine the value of their assets or properties accurately, which is

important for various purposes such as selling, buying, leasing, insurance, taxation, and financing.-

2. Appraisal services can also help to identify the potential risks and opportunities associated with a property or

asset, which can help in taking informed decisions.-

3. Appraisers are certified professionals who have the expertise and knowledge to provide unbiased and objective

opinions about the value of a property, which can give comfort to buyers, sellers, investors, lenders, and other

stakeholders.-

4.Appraisal services can save time and money by avoiding costly mistakes or disputes that can arise due to

inaccurate or incomplete information about a property's value.

.
 DISADVANTAGES

1- Appraisal services can be costly, especially if the property is complex, unique, or has a high value.

Multiple appraisals may be needed in some cases, which can further increase the costs.-

2. Appraisal services may not always provide the desired outcome or value.

3. Appraisers use different methods and approaches to determine the value, and their opinions may differ

based on their expertise, experience, and judgment.-

4. Appraisal services may be influenced by the prevailing market conditions, which can lead to overvaluation

or undervaluation of a property. This can cause problems for buyers or sellers who rely on the appraisal for

decision making