Business profile for Process Solutions in Durango, Colorado. Infofree.com offers unlimited sales leads, mailing lists, email lists.
An appraisal is an unbiased professional opinion of a home's value. Appraisals are almost always used in purchase and sale transactions and commonly used in refinance transactions. In a purchase and sale transaction, an appraisal is used to determine whether the home's contract price is appropriate given the home's condition, location, and features.
The function of an appraisal refers to the use made of the value estimate; such as transfer of ownership, extension of credit, compensation for loss, taxation/assessment. Example: The purpose might be to estimate market value; the function is to establish the price at which the property should be listed or sold.