- The word appraisal is defined as the act of determining a value of something or the report of that value.
- An example of the word appraisal is when an individual determines a house value as a result of evaluating the neighborhood and its amenities.
- An example of appraisal is the report made outlining the value of the house.
appraisal definition by Webster's New World
- an appraising or being appraised
- an appraised value or price; esp., an expert valuation for taxation, tariff duty, sale, etc.; estimate
appraisal definition by American Heritage Dictionary
- The act or an instance of appraising.
- An expert or official valuation, as for taxation.
appraisal - Business Definition
appraisal - Cultural Definition
A formal evaluation of property by an expert, used to establish its market value.
appraisal - Investment & Finance Definition
The evaluation of a property and assessment of its worth by an independent professional. Typically, appraisals are done on property before a bank approves a mortgage. Appraisals also may be done on other assets, such as jewelry or a business. The person conducting the appraisal is called an appraiser.