However, in case of EPC projects, the EFC/PIB appraises
and approves Capital Cost that includes construction cost, centages, cost of pre-construction activities and the cost of Land Acquisition cost; Above said multiple stages of examination and appraisal of the same project by different Ministry/Department/Committees cause avoidable delays in award of NH projects.
In Michigan, for example, he appraises
a lot of Dutch or Norwegian silver.
If the foregoing example was contingent upon the purchaser obtaining a loan in the amount of $160,000 and the apartment appraises
at $180,000, the seller and purchaser must either agree to lower the sale price to $180,000 or the purchaser has the right cancel the transaction (unless, of course, the purchaser agrees to purchase the apartment at $200,000 with a loan of $144,000).
An appraiser who regularly appraises
for the donor, donee or party to the transaction and does not perform a majority of his or her appraisals for other persons.
Gordon Brothers disposes in excess of $10 billion in assets at original value annually and appraises
over $30 billion.