Definition - What does Appraiser mean?

An appraiser is a person who makes valuations of various types of property as a means of business. Appraisers can evaluate houses, artwork, jewelry, etc. In the context of the law, appraisers are often used for probate and condemnation proceedings. Also, appraisers must have the appropriate licenses to be legally permitted to operate.

Justipedia explains Appraiser

The reason why appraisers are important is because prices for property often fluctuate depending on market circumstances. So, if a person bought a house at one price, it does not mean that it will still be worth the same amount in 10 years' time. In fact, it could be worth significantly more or less. So, appraisers basically help buyers and sellers alike to determine the real worth of the property that is being sold. This service can also be very important when property needs to be assessed for insurance claims.

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