The situation of a foreign appraiser working in The Bahamas is frustrating and insulting. The fact is that these people are not licensed in the country to work as real estate appraisers. In some cases, these people have come here illegally and never registered with the government. Others may have been vacationers who were mistakenly charged with appraisal work. BREA recently urged the Davis administration to withdraw real property tax bills from 2022, arguing that the appraisals used to support these bills are not valid.
The government countered the argument that the powers of a chief valuation officer are not related to the Real Estate (Brokers and Salesmen) Act 1995. While Tyler Technologies’ executives defended the appraisal firm’s services, the Government countered that it is in the interests of the people of The Bahamas to ensure that real estate taxes are fair.
A Bahamas appraiser is a highly qualified professional who has completed specialized training in real estate valuation. Whether a property is for personal use, or for a commercial venture, a licensed Bahamas appraiser will be able to accurately assess the value of the asset. An appraiser must also be familiar with the Bahamas’ real estate regulations and laws.
Before hiring a Bahamas appraiser, it is important to check that they are licensed in the country. A licensed appraiser will have experience in a wide range of real estate types and will be familiar with the legal systems in each jurisdiction. Additionally, a Bahamas appraiser will know the local market and its unique characteristics.
Lorraine Thompson, a real estate broker in the Bahamas, is licensed to work in Spanish Wells and the surrounding areas. She specializes in helping buyers find the perfect fit. She is a member of the Bahamas Real Estate Association. She enjoys working with buyers and knows the area well. Whether you are looking for a property in the Spanish Wells area or a property in Eleuthera, Lorraine Thompson can help you find the right place.
Lorraine McLaughlin was born and raised in The Bahamas. She completed her high school education in the U.S. and later obtained her business degree. After graduation, she worked in marketing and management positions for various construction companies. She was also a licensed real estate salesperson in the U.S. exumas real estate Lorraine is the daughter of a Bahamas real estate appraiser.