Appraisal value is the market value of an asset that is derived from the appraisal process. Depending on the asset, the method used to appraise the asset will differ. For homes, appraisers often use a method that includes recent sales data of comparable homes. They may also use the replacement method, which is the cost to replace the home at today's prices.
is an estimate of the property's worth, usually based on recent sales of comparable properties nearby. Appraisals, done by certified professionals, are used by lenders to verify a home's value and to justify a lender's mortgage commitment for the home.
An estimate of the market value of the property.
A mortgage lender determines the fair market value of a home by arranging an independent appraisal of the home's value. The appraisal uses local real estate market sales activity as a major basis for valuation. The appraisal value determines how much the lender is willing to loan. Generally, lenders make mortgage loans of up to 80 percent of the appraisal/fair market value of the home (see loan-to-value (LTV) ratio). For instance, a home appraised at $100,000 can be fi nanced with a first-mortgage loan of $80,000. Before funding a larger percentage of the appraisal value, lenders generally require that borrowers obtain private mortgage insurance (PMI), which protects the lender from default.
An estimate of a property's market value by a professional Appraiser; used by lenders in determining the amount of the mortgage.
A professional opinion about the market value of the house you want to buy (or already own if you're refinancing your loan). You must pay your mortgage lender or broker to hire an appraiser, because this opinion helps protect the lender from lending you money on a home that's not worth the mortgage amount.
An opinion of the market value of a home expressed by a real estate appraiser. Also referred to as an "appraisal".
An opinion of a property's fair market value, based on an appraiser's knowledge, experience, and analysis of the property.
A formal or semi-formal evaluation of the value of a specific item of property, usually as conducted by a person with expertise or certification of valuation with respect to such property.
The appraisal value is the value of a company based on a projection of future cashflows that its owners will receive from the company's assets as well as from its current and future operations.