What is typically included in a property appraisal?

A property appraisal is a comprehensive evaluation that focuses on determining a property's market value. This process typically involves an assessment of the property's physical condition and its market value, taking into account various factors such as its size, layout, and overall condition, as well as recent comparable sales in the area.

The appraisal process includes analyzing features such as the quality of construction, interior amenities, external factors affecting the property, and the general characteristics of the neighborhood. However, the primary objective of an appraisal is to establish a value that reflects what the property would likely sell for in the current market.

While analysis of market trends, neighborhood inspections, and marketing recommendations might be components of broader real estate assessments or strategies, they are not the primary focus of a property appraisal. The core of appraisals lies in assessing physical attributes and translating that information into an accurate valuation for clients, lenders, or other interested parties.