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  Appraisal Definition
Appraisal An appraisal is a tool that is used to estimate the value of a property and is most often used in regards to real estate transactions. When applying for a mortgage, your lender will most likely require you to obtain an appraisal before they will approve your loan. When obtaining an appraisal for a property you are interested in purchasing, you should work with a certified, licensed professional who is familiar with the area you are purchasing a home in.

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