Daily Real Estate Vocab is here!

Today we discuss the term: appraisal

Appraisal is an estimate of approximate worth of something. A real estate appraisal is an estimation of the market value of a home or property by a licensed appraiser.

Typically the appraiser is hired by the lender but we’ll talk more about that when we cover what an appraiser is.

There's a couple important things you have to understand about real appraisals. 1 that there are many different types, these include Appraisals for a Mortgage, Appraisals for Estate Valuation and even Appraisals for Business Purposes. And secondly, that there are different methods of appraisal which we’ll cover later as well.

For more vocab terms check out our ultimate guide here: [ Ссылка ]

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