Unbiased professional opinion of a property's value, conducted by a licensed appraiser.

Unbiased professional opinion of a property's value, conducted by a licensed appraiser.

Value of a property as determined by an appraiser, typically used for mortgage lending purposes.

Value placed on property by a government authority for taxation purposes.

Sales data for similar properties used to assess the value of a property being appraised.

Decrease in property value over time due to wear and tear, age, or obsolescence.

Price at which an asset would change hands between a willing buyer and a willing seller.

Estimated amount for which a property would sell in an open and competitive market.