appraisal
Definition 1
Impartial analysis and evaluation conducted according to established criteria to determine the acceptability, merit, or worth of an item.
Definition 2
Evaluation by a qualified appraiser to (1) assess the current market value of a property, (2) estimate the extent of damage to an insured property and cost of repairs, or (3) determine if a total loss occurred. A written appraisal is usually a key requirement when a property is bought, sold, insured, or mortgaged. It is required also when a claim is filed for compensation for damage or destruction of the insured property. See also appraisal value.
Definition 3
Alternative term for valuation.
appraisal is in the Accounting & Auditing, General, Marine, & Life Insurance and Real Estate & Buildings subjects.
appraisal appears in the definitions of the following terms:
property appraisal,
settlement cost,
immediate delivery,
building residual method,
internal rate of return (IRR),
net present value (NPV),
appraisal clause,
human resource management (HRM),
project cycle,
appraisal approach
and
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