appraisal

Definition

A professional opinion, usually written, of the market value of a property, such as a home, business, or other asset whose market price is not easily determined. Usually required when a property is sold, taxed, insured, or financed.

Use appraisal in a sentence

When selling a home, the owner may have an appraisal completed to find out its current value and at what price to put it on the market for.

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quantity survey method balance