usually performed as a service by someone recognized as an expert.

Fee Appraisal - Appraisal of an individual property by a contracted appraiser who is usually paid a fee. For example, this will be done prior to a loan being issued by a bank, to verify that there is sufficient collateral should the borrower default.

Market - also known as "sales comparison" - establishing the value based on a comparison of what similar properties have sold for.

Also See:

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