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4 Cards in this Set

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  • Back

appraisal

act or process of developing an opinion of value

an appraisal includes

description of the property under consideration, the appraiser's opinion of the property's condition, its utility for a given purpose, and/or its probable monetary value on the open market

real estate

land itself and all things permanently attached to it

real estate typically includes

land, fixtures (attachments) to land, anything incidental or appurtenant to land that benefits the landowner, anything else that is considered immovable by law, except for cultivated crops and other removable things that are sold by a contract of sale that complies with the laws regulating the sale of goods