What is a Real Estate Appraisal?

An appraisal (as a noun) is the act of estimating or developing an opinion of value.
An appraisal (as an adjective) is  relating to appraisal functions such as appraisal practice or  appraisal services.

Real estate appraisals are appraisals of real estate, which is generally a parcel of land and those things permanetly affixed to the land.
Real property is generally considered the interests, rights and benefits of and in a parcel of land. 

 Most appraisals are to estimate market value for lending purposes.  Such appraisals are generally controlled by the requirements of  USPAP (Uniform Standards of Professional Appraisal Practice) and the licensing authority of the state.

The 2010 USPAP can be viewed on line here:   2016-17 USPAP

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