A real estate appraisal is done by a licensed real estate appraiser and is most often used by lenders when issuing mortgages for refinancing or buying/selling a home. Appraisals, although, can also used for any other reason a determination of value is needed or wanted. A real estate appraisal is a report performed by a licensed appraiser who will give an unbiased opinion of value of the subject property. An appraiser must follow strict licensing and industry guidelines as well as follow the Uniform Standards of Professional Appraisal Practices (USAP) when determining value
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