Sep 26, 2025
Question: What is the term for a detailed estimate of a property’s market value, usually performed by a licensed professional?
Answer: Appraisal.
The term for a detailed estimate of a property’s market value, usually performed by a licensed professional, is an appraisal or a property valuation. An appraisal is a formal assessment conducted by a certified appraiser who analyzes factors such as location, size, condition, and recent sales of similar properties to determine the property’s fair market value. The result is typically presented in a detailed report.
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