What is What Is a Real Estate Appraisal?
A real estate appraisal is a licensed appraiser's opinion of a property's fair market value. Lenders require one before funding a mortgage to ensure the loan amount is supported by the property.
Practical Example
When a U.S. consumer researches real estate appraisal, understanding the mechanics up front helps them compare providers, avoid hidden fees and choose the option that best fits their budget and long-term goals.
Why It Matters
Getting real estate appraisal right can save households hundreds to thousands of dollars each year and prevents disputes that end up in state regulator complaints or court.
Frequently Asked Questions
Because it affects the price you pay, the protections you keep and the options you have — details that shift with each new regulatory cycle.