An appraised value is an estimate of a property's worth, calculated by a licensed appraiser during the home-buying process.
A drive-by appraisal, also known as an exterior-only appraisal, is a valuation of a property's market value based primarily on an external inspection from the street or perimeter without conducting an interior evaluation of the property.
Form appraisal utilizes standardized forms, such as the Fannie Mae Form 1004, Form 2055, and the Uniform Residential Appraisal Report (URAR), to provide a systematic approach to real estate valuation.
A Real Estate Appraiser is a professional who evaluates and estimates the value of properties. The appraiser considers many factors, including location, condition, and market trends, to provide an unbiased opinion of the property's market value. Their services are crucial for transactions such as buying, selling, refinancing, and property taxation.
