Appraisal

From Real Estate

An appraisal is a document that gives an estimate of a property's fair market value. The property must first be "appraised" by an approved and liscenced appraiser. An appraisal is generally required by a lender before loan approval to ensure that the mortgage loan amount is not more than the value of the property.

This article is part of the Real Estate Wiki's glossary. To see the entire glossary, click here.
Quick Glossary: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z