Explore commonly used personal finance terms.
Appraisal value is the estimated market value of an asset, such as real estate, jewelry, or art, as determined by a certified appraiser. This value is essential for transactions like selling, insuring, or mortgaging the asset. An accurate appraisal reflects the asset’s worth based on condition, market demand, and comparable sales. Appraisal values play a crucial role in buying or selling decisions, tax assessments, and securing loans, offering an objective valuation that helps buyers, sellers, and insurers make informed decisions.
