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.