BAYER APPRAISALS

An appraisal is the act or process of developing an opinion of value - or the most probable price a property should bring as of a specific date. The appraisal is typically ordered by the lender (customer) to assist them understand the property that will be the collateral for a real estate loan they are considering making. They are interested in having an expert estimate of the current market value of the property and want to know about the property, its neighborhood and market conditions - so a prudent lending decission can be made.