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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
Appraisal: Definition, How It Works, and Types of Appraisals An appraisal is an assessment of the fair market value of a property, business, antique, or even a collectible Appraisals estimate the value of items that are infrequently traded and unique
What Is A Home Appraisal? | Bankrate A home appraisal involves an objective professional evaluating a home to determine its value Home lenders commonly order appraisals during mortgage or refinance underwriting
How a Home Appraisal Works and How Much It Costs What is a home appraisal? A home appraisal is a licensed or certified appraiser's opinion of a home's value The appraisal is based on research of recent sales of comparable
Home Appraisal: What It Is and How It Works | Zillow What Is a Home Appraisal? A home appraisal is an estimate of a property’s value by a licensed appraiser Whether you’re buying, selling or refinancing a home, an appraisal is typically an important part of the process because the results can affect the borrower’s ability to receive a loan
What are appraisals and why do I need to look at them? An appraisal is an independent assessment of the value of the property When you borrow money to buy or refinance a home, your lender may need to get a new appraisal and may require you to pay for it Your lender may also use other ways to check the value of the home
What Is a Home Appraisal and Why Does It Matter? - Angi An appraisal determines a home’s value and is a necessary part of the mortgage process Appraisers use property, neighborhood, and market data to assess a home’s market value