What Factors are Taken into Account by an Appraiser When Establishing Fair Market Value?

Hello, my name is Raymer Maguire, I’m an eminent domain practitioner of 30 years, I limit my practice to representing property owners and business interests. And the question at hand is, what factors are taken into account by an appraiser when establishing fair market value? Generally speaking, those kind of questions that you probably asked and answered when you were selling a home or a commercial piece of property are the same factors that an appraiser uses. Where is it? How much land is there? How many square feet of building improvements? What’s the condition of the property? What have the recent sales been for that type of property? All those types of questions that you’ve asked buying or selling property the appraiser is gonna ask but in a more trained manner.