GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

Appraised Value

Synonyms:	current value, estimated, price, replacement cost
Filed Under:	mortgages, real-estate
Tags:	appraisal, mortgage, realty

appraised value: 1. An educated estimate regarding the value (monetary worth) of a property determined by a qualified appraiser.

appraisal 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 A detailed evaluation of the value of a property based on an inspection and a review of the values of nearby, comparable properties.
assessments Special and local taxes imposed upon property which benefits from an improvement that has been made in the vicinity.
fair market value (FMV) The highest price that a buyer would pay for a property and the lowest price a seller is willing to accept.
intangible asset Non-physical resources or rights to other assets. Patents, goodwill, permits and computer programs are examples of intangible assets.
intangible property 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.
monetary value A property's monetary value is its worth if sold at this moment in time.
sale price The price that is paid for an asset.
seller's market Due to either low supply or high demand, the seller can expect to sell quickly with a high sale price.
valuation The estimation of a property's price value through an appraisal.