Appraised Value

Definition

• An educated estimate regarding the value (monetary worth) of a property determined by a qualified appraiser.

Synonyms
current value, price, estimated, replacement cost

Related Terms and Acronyms

• Appraisal — Definition,
  • An estimate of the market value of a piece of real estate made by a competent professional who knows local real estate prices and markets.
• Appraisal Report — Definition,
  • A detailed evaluation of the value of a property based on an inspection and a review of the values of nearby, comparable properties.
• Assessments — Definition,
  • Special and local taxes imposed upon property which benefits from an improvement that has been made in the vicinity.
• Book Value — Definition,
  • A valuation method determined by taking the original cost of an asset and subtracting any depreciation, impairment or amortization costs.
  • The value of a property, item or company as a capital asset based on its cost plus any additions, subtracting depreciation.
• Effective Age — Definition,
  • An appraiser's estimate of the physical condition of a building. The actual age of a building may be shorter or longer than its effective age.
• Extended Replacement Cost — Definition,
  • A replacement cost for an asset that exceeds that of the actual cash value of the asset.
• Fair Market Value (FMV) — Acronym, Very Important,
  • The highest price that a buyer would pay for a property and the lowest price a seller is willing to accept.
• Full Market Value — Definition,
  • In reference to property taxes, usually refers to the tax rate applied to 100 percent of the property's value. Also full cash value.
• Intangible Asset — Definition,
  • Non-physical resources or rights to other assets. Patents, goodwill, permits and computer programs are examples of intangible assets.
• Intangible Property — Definition,
  • Property that does not have value itself, but represents something else. Stocks, bonds and franchises are examples of intangible property. Business furniture and equipment are examples of tangible personal property.
• Lending Value — Definition,
  • The property value for mortgage purposes. Usually the lesser of appraised value or sale price.
• Low Ball Offer — Definition,
  • A way-below-market bid a buyer makes on a property or item.
• Monetary Value — Definition,
  • A property's monetary value is its worth if sold at this moment in time.
• Purchase Price — Definition,
  • The total selling price of the home, including the cash down payment and the principal on the loan.
• Sale Price — Definition,
  • The price that is paid for an asset.
• Seller's Market — Definition,
  • Due to either low supply or high demand, the seller can expect to sell quickly with a high sale price.
• Valuation — Definition,
  • The process of finding the worth of an asset or business.
  • The estimation of a property's price value through an appraisal.