Financial Glossary: Appraisal


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Appraisal

Appraisal

A professional opinion of the Market value of a property.

A property's value assessment is based on information from recent sales of similar properties.

An estimate of the value of property, made by a qualified licensed professional called an "appraiser."

A Valuation of property (i.e. Real Estate, a business, an antique) by the estimate of an authorized person. In order to be a valid appraisal, the authorized person should have a designation from a regulatory body governing the jurisdiction the appraiser operates within.

Appraisals are typically used either for taxation purposes or to determine a possible selling price for the property in question. The appraiser can use any number of Valuation methods in order to determine the appropriate value to assign, including the current Market value of similar properties, quality of property and Valuation models.

Appraisal Fee is the charge for estimating the value of property offered as Security.

Posted by Henley & Partners Group Holdings Ltd

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