Appraisal Report
Definition
- A detailed evaluation a property's value that is typically conducted by a professional. The report is then based on an inspection of the property and a review of nearby, comparable properties along with their values.
Synonyms
assessment report, pricing statement, value judgement, cost summary, survey
Related Terms and Acronyms
- Appraisal — Definition,
- An estimate of the market value of a piece of real estate made by a competent professional who knows local real estate prices and markets.
- Appraised Value — Definition,
- An educated opinion of how much a property is worth.
- Appraiser — Definition,
- A person qualified by education, training, and experience to estimate the value of real property and personal property.
- Credit Report (CR) — Acronym, Very Important,
- A report on a loan applicant's willingness and ability to make payments in a timely manner in the past. This report is provided to the bank by an outside agency.
➥ A report that outlines the credit worthiness of an individual or entity. - Inspection — Definition,
- A critically and carefully performed examination.
- Inspection Report — Definition,
- The documentation of a thorough examination of a house's visible structural parts and systems, conducted before purchase.
- Property Report — Definition,
- A legal document prepared by a surveyor that shows the locations of all visible public and private improvements relative to property boundaries.
- A legal disclosure that developers of timeshare properties are required to give to prospective buyers.
- Survey (srvy) — Abbreviation,
- A map executed by a licensed surveyor, which sets down precisely the boundaries of a given property as well as improvements, references to known landmarks, and the property's notable features.
➥ As in surveyed land.
