2006-07-13 00:10:51 · 4 answers · asked by zulaika z 1 in Business & Finance ➔ Small Business
Appraisal is the act of estimating the monetary value of real, personal, or intangible property, usually performed as a service by someone recognized as an expert or certified by an organization or government agency.
2006-07-13 00:14:39 · answer #1 · answered by oooo y 2 · 0⤊ 0⤋
According to The Dictionary of Real Estate Appraisal, Third Edition, 1993, the definition of an appraisal is:
1. An analysis, opinion, or conclusion relating to the nature, quality, value, or utility of specified interests in, or aspects of , identified real estate. (Code of Professional Ethics of the Appraisal Institute) In this usage, appraisal covers a variety of assignments, including valuation, consulting, and review.
2. The act or process of estimating value; an estimate of value. (USPAP, 1992 edition).
The definition of an appraisal process is:
A systematic procedure employed to provide the answer to a client's question about the value of real property
2006-07-13 00:13:35 · answer #2 · answered by jmatt_inc 3 · 0⤊ 0⤋
Appraisal
A Judgement about the nature, quality or value of someone or something.
or
An estimate esp by an expert, official, of value of property, such as hpuse, land or art collection, for the purpose of taxation, sale or the like.
2006-07-13 00:24:21 · answer #3 · answered by AJ 2 · 0⤊ 0⤋
A valuation of property by a qualified person
2006-07-13 00:12:17 · answer #4 · answered by goodbye 7 · 0⤊ 0⤋