property value appraisal

Property value appraisal is the process of determining the fair market value of a property at a specific point in time. It involves analyzing various factors such as the property's size, condition, location, and recent sales of similar properties in the area. An appraiser considers these elements to provide an unbiased, professional opinion of the property's worth. This valuation is essential for transactions like buying, selling, refinancing, or assessing property taxes, ensuring all parties have a clear understanding of the property's true market value.