Appraisal

process of evaluating records to determine their retention based on administrative, legal, and fiscal requirements and historical value Also referred to as records appraisal.

The process of determining the value and thus the retention or disposition of records based upon their administrative and other uses, the evidential and informational or research value, their arrangement, and their relationship to other records.

The process of determining the value and thus the disposition of records based upon their current administrative, legal, and fiscal use; their evidential and informational value; their arrangement and condition; their intrinsic value; and their relationship to other records.

See records appraisal.

The process of determining the value and thus the disposition of records based on their current administrative, fiscal, and legal value; their evidential and informational value; their arrangement and condition; their intrinsic value; and their relationship to other records.

The act of evaluating and setting the value of a specific piece of personal or real property.

An evaluation of a home insurance property claim by an authorized person to determine property value or damaged property value. Many policies provide an “appraisal” process to resolve claim disputes. In this process, you and the insurance company hire separate damage appraisers. The two appraisers choose a third appraiser to act as an “umpire.” The appraisers then review your claim, and the umpire rules on any disagreements. The umpire's decision is binding on you and the insurance company, but only for the loss amount. If there is a dispute over what is covered, you can still pursue a settlement of the coverage issue after the appraisal takes place. You are required to pay for your appraiser and half of the umpire's costs.

A survey of property made to determine its insurable value.

An independent evaluation of your home or business to establish a value for a specific period of time.

A written estimate, provided by a State licensed Appraiser, of the value of a home.

a written estimate of a property's current market value prepared by a professional appraiser.

A professional analysis used to estimate the value of the property. This includes examples of sales of similar properties.

An estimate of a property's value as of a given date, determined by a qualified professional appraiser. The value may be based on replacement cost, the sales of comparable properties or the property's income-producing ability.

A document from a professional that gives an estimate of a property's fair market value based on the sales of comparable homes in the area and the features of a property; an appraisal is generally required by a lender before loan approval to ensure that the mortgage loan amount is not more than the value of the property.