Appraisal

Definition of "Appraisal"

Valuation assessment of real property by an expert third party for the following purposes. (a) developing a realistic marketing price. (b) setting a market value at a time of death when probating an estate. (c) dividing the value of real estate between the property and structural improvements. (d) establishing insurable value.

Search Real Estate Glossary

Related Real Estate Glossary terms

Rebate

Same as term Negative Points: Points paid by a lender for a loan with a rate above the rate on a ze ...

Effective Annual Yield

Real rate of interest on a loan. It is the coupon rate divided by the net proceeds of the loan. Assu ...

Retained Earnings

Net profit of a business, less dividends. Reinvestment of retained earnings enables an insurance com ...

Consultant

In insurance, independent advisor who specializes in pension and profit sharing plans. Usually a lic ...

Annuity

Contract sold by insurance companies that pays a monthly (or quarterly, semiannual, or annual) incom ...

Short-form

Condensed appraisal report covering the major items. ...

Related Real Estate FAQ

What Do I Need To Know About Whole Life Insurance?

Whole life insurance insurance provides the coverage amount to your beneficiary in the of your death ...

What Do I Need To Know About Watercraft Insurance?

You need separate coverage for the variety of risks you face when storing, launching, hauling or run ...

What Is An Appraised Value?

An opinion of a properties fair market value, based on an appraisers inspection and analysis of the ...

What Is A Quit Claim Deed?

A quit claim deed is a formal document that denies a claim to a certain property. Often used to clea ...

What Is A Survey?

A survey is an examination of a property\'s boundaries to determine the quantity of land, location o ...

What Does Fannie Mae Mean?

Fannie Mae is a name used by the Federal National Mortgage Association, which is a government-charte ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews

Agents join here

Add our widget on your Website

Real Estate Advice

Tax Breaks for the First Time Home Buyer Getting Ready to Sell? Don't make these DIY Mistakes! What is Earnest Money Rent or Buy - the pros and cons Short Sale Homes

FAQ

How Much Will My Principal Be? What is zoning? What does an appraisal mean? What is a proprietary lease? What is homeowners association (HOA)?