Commercial Real Estate Dictionary

Dictionary >> Definition

<< Anchor Tenant Architect >>

Appraisal

Definitions of Appraisal
  • A real estate appraisal is an estimate or determination of a property's value.
    We are hoping for a high enough appraisal on the property so we can get the financing we need to purchase the home.


What is an appraisal?

In real estate, an appraisal is an estimate or determination of value of real property.

A real estate appraisal is typically conducted by a licensed or certified real estate appraiser. Real estate appraisers may specialize by property type or market.

The need for a real estate appraisal can arise in a variety of situations. Lenders may require an appraisal before lending on a property which occurs when a buyer borrows to purchase real estate, or an existing owner wishes to refinance a property.

Other situations that may require an appraisal include establishing a value to reassess a property's tax liability, or settling disputes and estates.


        

Real Estate Terms

1. How much cash will be required to make your mortgage payments? Debt Service >>


2. Who can you go to to finance your construction or development project? Construction Lender >>


3. What professional can assist you in maximizing the value of your investment property? Asset Manager >>


4. How can we assess future commitment to infrastructure to support our communities and future development? Capital Improvements Projects >>


5. What measurement indicates if a property's financial performance can cover its debt? DSCR >>


6. What part of a city is the center of urban economic development? CBD >>


7. What allows property owners and professionals to estimate the market value of a commercial property? Comparable Property >>


8. What can landords do to entice prospective tenants? Concession >>


9. What critical factor do stores depend on to drive traffic? Anchor Tenant >>


copyright © 2020 Opmetric Inc. All Rights Reserved. Videos embedded per Youtube Terms of Service.
This website is provided by Opmetric Inc for educational and informational purposes only and should not be considered advice. We make no warranty express or implied as to the accuracy or reliability of information on this website. Information on this website is not guaranteed to be current, complete, or correct.