What is a Real Estate Appraisal?

A real estate appraisal is a process that is performed by real estate professionals to determine the market value of a home or a house. Professional real estate appraisals are always needed when a loan is needed for the purchase of a property. Residential property value is almost always determined by using a comparison of the sale prices of similar homes in the same area, and professionals derive the real estate appraisal from . The appraiser carefully researches all information pertaining to the home before determining a market value, which will help both the buyer and seller reach an agreement on the price that both consider fair.

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