Condemnation appraisals vary in various instances from the usual or typical assignments of market value. Most of the times in condemnation appraisals, the appraisers cannot take into consideration a good comparable sales and comparable sales which had been impacted by condemnation, this is if the purchase had been done by the condemning authority. Moreover, in the condemnation appraisal, the “damages to the remainder” and values of the part that has been "taken" should first be computed. Also, the possibility of the condemnation appraisal to be scrutinized during the course of the judicial proceeding cannot be avoided. Therefore, meticulous care is necessary in research and preparation of appraisal.

The condemning authorities have broad and almost unlimited rights in condemnation actions. The property can be taken to be transformed into public or private use.

The owners of the properties need to practice caution when dealing with condemning authorities. There are some authorities who have straight forward approach. Usually, their initial offer is presented as the best that they can offer. However, there are also some condemning authorities who initiate it with an offer below the market value and they gradually increase the offer with each step as they go on with the process. The owners of the properties are advised to consult an appraiser or a person knowledgeable about the condemnation process. This is to make sure that the treatment would be equitable and fair.

Majority of the condemnation actions take a certain part of the property termed as "part taken". Its market value is usually not for meaningful contention. Furthermore, in general, the damages to the “remainder” or balance of the property are very contentious matter.

Income properties are purchased primarily for the income. The income, in this case, is the determinant of the value of the property. In a specific area, the rate of return that is expected by the investors provides what is termed as the "cap rate" or capitalization rate for that area. This figure is used in order to appraise a particular income property accurately. Here is a more simple explanation of this matter.

The whole concept of the process starts with the property’s gross income. Then, you need to subtract all the expenses excluding loan payments. For instance, a property’s gross income is $82,000 annually and the expenses amounts to $30,000. From these figures, the net or before debt-service is equivalent to $52,000. The capitalization rate is then applied to this value or figure.

Assuming that the acceptable capitalization rate in a specified area is .10 (consult a real estate agent). This means that the investors can expect a 10% return on the value of that property. The income which is $52,000 is simply divided by .10. From these assumed figures, $520,000 is the indicated value of the property. Assuming that the ideal rate is .08 which means that the investors within the area expect 8% return. The value then would be $650,000 if you follow the same computation.

The NACVA or National Association of Certified Valuation Analysts is the one that awards the CVA or Certified Valuation Analysts designation. It was established in the year 1991 and as of the present have an estimated number of 4,300 accredited members on a nationwide basis.

Certified Valuation Analysts are also licensed CPA's just like the American Institute of Certified Public Accountants. CVA's, however, need not have an experience not like the AICPA. CVA's are required to pass an exam which consists of two parts in order to demonstrate aptitude. The 4-hour exam is facilitated by a proctor and is then followed by a take-home case study of around 40-60 hours which is standardized.

An estimated 75% of the applicants successfully pass the examinations and is supported by statistics.

The Institute of Business Appraisers

The IBA or Institute of Business Appraisers is the one which awards the qualifying members with the CBA designation or Certified Business Appraiser designation. It was established in the year 1978 and is recognized as the first association with full dedication to business appraisers. Approximately 28% of the applicants pass the strict requirements as noted by IBA which makes the CBA an elite and superior title or position in the industry.

Prior to submitting an application, CBA's need to complete a minimum of 90 hours of education in business valuation or 10,000 hours of work experience. The potential candidates should then pass a proctored exam which takes 6 hours and submit 2 appraisals for peer review. Additionally, CBA's should attend continuing education courses equivalent to 24 hours every 2 years for them to be able to keep their designation.