appraisal
A qualified appraiser will prepare this written analysis of the estimated value of a property. The appraisal is based on the appraiser's knowledge of the marketplace based on experience and market data. This represents an unbiased assessment of the fair market value based on properties recently sold in the area. The appraisal is a required piece of documentation on all home purchase and refinance loans.
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The following dictionary definition list is provided for clarification only. Note that many definitions are not directly applicable to mortgages, loans or other financial terminology in this glossary. Used with permission: WordNet 2.1 Copyright 2005 by Princeton University. All rights reserved.
appraisal
Noun: appraisal, assessment (the classification of someone or something with respect to its worth)
Noun: appraisal, estimate, estimation (a document appraising the value of something (as for insurance or taxation))
- appraisal -
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