What does Appraisal Value mean? Read on to discover the definition & meaning of the term Appraisal Value - to help you better understand the language used in insurance policies.
Appraiser's opinion (not determination) of the current worth of a property based on factors such as area, location, improvements, and amenities. Generally, this value is arrived at by using one of three methods: (1) Cost approach, (2) Income approach, or (3) Market comparison approach. Not to be confused with assessed value. Also called appraised value.
We hope the you have a better understanding of the meaning of Appraisal Value.