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Real Property

Real Property (RP) professionals provide independent unbiased opinions of value for real property, defined as all the interests, benefits, rights and encumbrances inherent in the ownership of physical real estate, where real estate is the land together with all improvements that are permanently affixed to it and all appurtenances associated thereto. The professionally qualified RP appraiser will be tested and accredited in one or more of the following specialties: ad valorem, rural real property, urban real property and timber and timberland.

RP assignments involve valuations for the purposes of acquisition and disposition of property, mortgage financing, insurance, estate taxes, eminent domain (condemnation), zoning, urban renewal and redevelopment, valuation tax planning, easements and rights of way and property evaluation. Other aspects of RP appraising include valuation of just the air rights and surface or subsurface rights of a property; also estimating the value of leased fee interests, which reflects the ownership of the landlord (lessor) and leasehold interests that are the tenant (lessee) interests of a leased property.

RP projects involve the potential for dispute and are regularly reviewed by governmental regulatory agencies. It is important that reviewers of the RP professional's work have confidence in competence and unbiased objectivity. RP professionals with accreditation from the American Society of Appraisers (ASA) enjoy one of the most prestigious and widely-recognized credentials offered.