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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 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
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
The Home Appraisal Process: What Homebuyers Need to Know In essence, the home appraisal process is meant to protect you (and the lender) from a bad purchase For instance: If the appraisal comes in higher than your asking price, it's generally fine