Afik HanahalReal estate appraiser
In short
The appraiser is who says "what it is really worth" - based on comparable deals, building rights, legal status and potential. For land especially, an independent valuation is the cheapest protection against an expensive mistake.
The professional explanation
The profession is regulated by the Real Estate Appraisers Law, 2001; only a registered appraiser may prepare valuations. Valuations follow appraisal standards and use the comparison approach, the income approach (capitalisation) and the cost approach (residual land value).
Uses: valuation before a sale or purchase, mortgage valuation (for the bank), counter-appraisal for a betterment levy, tax valuations, representation in allocation and balancing tables in reparcelation plans, and expert opinions for court.
A good valuation details rights, planning, permits, building deviations and scenarios - not just a number.
Example from the field
Before selling an agricultural parcel in the Sharon, the owner ordered a valuation. The appraiser found the parcel included in a deposited plan and worth far more than the offer received. The valuation changed the starting point of negotiations.