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| APPRAISAL |
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Related Terminology: VALUATION PROCESS
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| a professional opinion or estimate of the value of the property. Also, the act or process of estimating value. , • determine a reasonable offering price in a sale, • determine the value at death for estate tax purposes, • allocate the purchase price to the land and improvements, • determine the amount of hazard insurance to carry |
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| Example: A property owner may have an appraisal made of a specific property to |
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