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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
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
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
Appraisal Definition: How Your Home Value is Determined and Why What is a home appraisal? An appraisal is the process of determining what something is worth, getting an official value on a big ticket item — whether that item is your engagement ring, your late grandfather’s Black Forest cuckoo clock, or your beloved home
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? | 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