• An appraisal is an estimate of the fair market value of a property, business, antique, or even a collectible.
  • Ratings are used to estimate the value of items that are rarely sold and are unique.
  • The authorized valuer must be appointed by the regulatory body governing the valuer’s jurisdiction.
  • Estimates can be made for many reasons such as tax purposes when evaluating charitable donations.
  • A home appraisal can positively or negatively affect the sale of a home or property.
  • Valuations help banks and other lenders avoid loan losses.