real estate appraisal
Home worth assessment
A real estate appraisal is a professional assessment of a property's market value, typically conducted by a licensed appraiser.
Lenders require appraisals before approving mortgages to ensure the property is worth the loan amount.
The appraiser examines the property's condition, location, and comparable recent sales in the area to arrive at a valuation.
The appraisal came in lower than our offer, so we had to renegotiate.
- supply and demandPrice-determining economic forces
- brokersTransaction intermediaries
- lendersThose who provide loans
- home equityOwnership portion of residence
- closing costsFees finalizing property purchase
interest rates · square footage · lot size · curb appeal · reconciliation · comparable sales · inflation rates · surveyors · architectural style · economic cycles · population growth · neighborhood amenities · employment rates · building materials · urban planners · zoning ordinances · market value · property value
- property appraisalmarket value, home value, assessor, tax assessment, site inspection
real estate appraisalhome inspection
Professional assessment of property condition
property inspection · building inspection · termite inspection · title search · pest inspection
real estate appraisalguesswork
Conclusions drawn without proof
wild guess · gut feeling · speculation · ballpark figure · ballpark estimate
real estate appraisalcondemnation
Severe disapproval expressed formally
estate, appraisal, realism, realist, realistic, realistically, reality, realities, unreal