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Home Appraisal: What It Is and How It Works - Zillow While a home appraisal and home inspection are both important pre-closing steps, a home appraisal isn't the same as a home inspection An appraisal is an evaluation of the home’s condition to determine its fair market value
APPRAISAL Definition Meaning - Merriam-Webster The meaning of APPRAISAL is an act or instance of appraising something or someone; especially : a valuation of property by the estimate of an authorized person How to use appraisal in a sentence
What Is an Appraisal? The Appraiser’s Definition | McKissock An appraisal refers to the process of determining something’s value—a car, a ring, or (in this case) a piece of real estate A licensed appraiser performs an independent, unbiased valuation to determine the current market value of a property, such as a single-family home, farm, or business
Appraisal | Definition, Purpose, Factors, Process, and Benefits An appraisal is an objective evaluation of a property's market value Performed by a certified appraiser, it plays a central role in various real estate transactions, providing a factual foundation for decision-making
What are appraisals and why do I need to look at them? An appraisal is a written document that shows an opinion of how much a property is worth The appraisal gives you useful information about the property It describes what makes it valuable and may show how it compares to other properties in the neighborhood
Appraisal - Overview, Purpose, What is Included, Types An appraisal is an independent and objective estimate of an asset’s value conducted by an expert with appropriate credentials The appraiser conducting the estimate of value must be completely independent of all other stakeholders in the transaction