Common
Real estate appraisal
Process of developing an opinion of value for real property
Real estate appraisal
Real estate appraisal, home appraisal, property valuation or land valuation is the process of assessing the value of real property (usually market value). Appraisal reports form the basis for mortgage loans, settling estates and insurance policies, taxation, etc. Sometimes an appraisal report is also used to establish a sale price for a property. Factors like size of the property, condition, age, and location play a key role in the valuation.
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