An appraisal is the process of determining what something is worth, getting an official value on a big ticket item \u2014 whether that item is your engagement ring, your late grandfather\u2019s Black Forest cuckoo clock, or your beloved home.<\/p>\n
Insurance companies use appraisals to value items in your home, such as your engagement ring, so they can provide adequate coverage. Charitable contributions of property over $5,000 require a qualified appraisal for tax deduction purposes. You may also hear the term performance appraisal, which evaluates an employee\u2019s accomplishments and may be used to justify a promotion, raise, or disciplinary action.<\/p>\n
But if you\u2019re buying or selling a home, you\u2019re interested in a real estate appraisal. To provide you with the best definition of a home appraisal, who performs a home appraisal, and how it must be done<\/a>, we spoke with Joe LoCicero<\/a>, a top Florida real estate agent, and Diana Benson, owner and operator of Benson Appraisals<\/a> in Gilbert, Arizona.<\/p>\n\n\n\n\n\n Find proven real estate agents that know your local area, and how to help you prepare for a successful home appraisal. Top-performing agents sell homes faster and for more money.<\/p>\n \n \n \n \n ![\"homelight](\"https:\/\/www.homelight.com\/blog\/wp-content\/themes\/ccprototypev5\/images\/logo-small-cta.png\"){kind=logo}
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