Appraisal, Glossary and Terms, Depository Institutions & Credit Unions
List of United States Depository Institutions, Credit Unions, Guide Service
"Appraisal" - Depository Glossary Terms and Abbreviations
An assessment of the value of a home (or other type of real estate) by a qualified appraiser. Appraisals are generally required when selling or refinancing property. You might also need one when using property as collateral for a loan. To determine current market value, real estate appraisers typically compare the property being considered with recent sales of similar nearby properties.