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During a home appraisal, the appraiser will determine the fair market value of your property. This is based on research on the selling prices of homes in your neighborhood and on an inspection of your house and property. When doing the appraisal every room in the house is inspected.What is the purpose of an appraisal?
The purpose of an appraisal is the stated reason and scope of an appraisal assignment, i.e., to estimate a defined value of any real property interest or to conduct an analysis or consulting assignment to real property decisions.What are the steps in the appraisal process?
The six steps involved in process of performance appraisal are as follows: 1. Establish Performance Standards 2. Communicate Performance Expectation to Employee 3. Measure Actual Performance 4. Compare Actual Performance with Standards 5. Discuss the Appraisal with the Employee 6.What is the meaning of appraisal?
appraisal noun [ C or U ] uk /əˈpreɪ.zəl/ us /əˈpreɪ.zəl/. › the act of examining someone or something in order to judge their qualities, success, or needs: The newspaper gave an editorial appraisal of the government's achievements of the past year.