An appraisal is an estimate of the value and a means to convey that estimate to the appraisal user. Appraisals are used in any kind of business transaction where a value is needed for a peice or real estate. They can be used in buying and selling actions as a base for price. They can also be used for property tax evaluation or even be used for insurance companies to determine an insurable amount. The need for a third party to assess value will always be needed for business transactions concerning real estate. The third party appraisor is someone that can be trusted to give an entity value.
http://www.youtube.com/watch?v=wEqjUInKXOo
This video discusses the roles and the process of a real estate appraisal. The video does a good job at what specifies a useful appraisal and how to use the value gained in the appraisal. The narrator also does a good job of discribing the best way to give the most value to a homeowner.
http://www.youtube.com/watch?v=zdZw57gBUqY&feature=related
This video goes into more depth of the home inspection process. It illustrates how the appraiser assigns value to what it inspects.
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