appraisal

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A professional opinion or estimate of the value of the property. Also, the act or process of estimating value.
See also APPRAISAL REPORT, APPRAISER, MARKET REPORT .


Examples: Aproperty owner may have an appraisal made of a specific property to:

• determine a reasonable offering price in a sale

• determine the value at death for estate tax purposes

• allocate the purchase price to the land and improvements

• determine the amount of hazard insurance to carry

Previous:	Apportionment, Apportion
Next:	Appraisal Approach, Appraisal Date

1. estimate of the value of an asset. An asset may be a piece of property, a collectible, or a precious metal. In the case of property, for example, an appraisal is made for the purposes of: (1) allocating the purchase price to the assets acquired (e.g., land, building, equipment); (2) determining the amount of hazard insurance to carry; (3) determining the value at death for estate tax purposes; and (4) determining a reasonable asking price in a sale.


2. activities such as inspection and testing of materials, in-process items, finished goods, and packaging.

Previous:	Applied Cost, Applied (ABSORBED) Overhead, Application Program
Next:	Appraisal Capital, Appraisal Costs, Appraisal Method of Depreciation

noun

The act or result of judging the worth or value of something or someone: appraisement, assessment, estimate, estimation, evaluation, judgment, valuation. See value/worthlessness/evaluation.

An evaluation or estimate (preferably by a qualified professional appraiser) of the market or other value, cost, utility, or other attribute of land or other facility.

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This entry contains information applicable to United States law only.

A valuation or an approximation of value by impartial, properly qualified persons; the process of determining the value of an asset or liability, which entails expert opinion rather than express commercial transac- tions.

A formal evaluation of property by an expert, used to establish its market value.

A valuation of property (ie. real estate, a business, an antique) by the estimate of an authorized person. In order to be a valid appraisal, the authorized person will have a designation from a regulatory body governing the jurisdiction the appraiser operates within.

Investopedia Says:
Appraisals are typically used either for taxation purposes or to determine a possible selling price for the property in question. The appraiser can use any number of valuation methods in order to determine the appropriate value to assign, including the current market value of similar properties, quality of property and valuation models.

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Quotes:

"Evaluate what you want -- because what gets measured, gets produced." - James A. Belasco

"When your work speaks for itself, get out of the way." - Thomas 'Wayne' Brazell

"Appraisals are where you get together with your team leader and agree what an outstanding member of the team you are, how much your contribution has been valued, what massive potential you have and, in recognition of all this, would you mind having your salary halved." - Guy Browning

"How you measure the performance of your managers directly affects the way they act." - John Dearden

For a list of words related to appraisal, see:

• Banking and Financial Services - appraisal: estimate of property’s true value, esp. by expert
• Real Estate Practice - appraisal: authorized valuation of property based on market value, cost of replacement, or multiplying income derived from it by chosen constant

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See words rhyming with "appraisal."

This entry is from Wikipedia, the leading user-contributed encyclopedia. It may not have been reviewed by professional editors (see full disclaimer)

Dansk (Danish)
n. - vurdering, prisfastsættelse

Nederlands (Dutch)
schatting, (gesprek) ter beoordeling van de voortgang, taxatie

Français (French)
n. - évaluation, estimation, appréciation

Deutsch (German)
n. - Bewertung, Schätzung

Ελληνική (Greek)
n. - αξιολόγηση, εκτίμηση

Italiano (Italian)
valutazione

Português (Portuguese)
n. - avaliação (f), cálculo (m) de valor

Русский (Russian)
оценка

Español (Spanish)
n. - evaluación

Svenska (Swedish)
n. - bedömning, uppskattning

中文（简体）(Chinese (Simplified))
评价, 鉴定, 估价

中文（繁體）(Chinese (Traditional))
n. - 評價, 鑒定, 估價

한국어 (Korean)
n. - 평가[감정], 견적

日本語 (Japanese)
n. - 値踏み, 評価, 見積もり, 査定価格

العربيه (Arabic)
‏(الاسم) تقييم, تخمين, تثمين‏

עברית (Hebrew)
n. - ‮הערכה, אומדן‬

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