Financial Dictionary -> Mortgages -> Appraiser

Appraiser is a person who is qualified to appraise assets. Appraisers usually have formal education, training and experience in the field they do appraisals.

The real estate appraiser has been educated in determining the real value of property; this consists of land, buildings, properties with natural resources and other things that add to the value. In most states, they are required to be certified.

Real Estate Appraiser is a professional trained to estimate the value of properties, including ones that have been sold, taxed, insured, mortgaged or condemned. They work in specific areas such as cities or counties, in order to have the knowledge of the market.

The appraiser has independent clients and often focuses on one type of property they specialize in such as residential properties or business properties. This does not mean the appraiser could not determine the real value of a different type of property.

There is currently no formal degree required for this type of employment in most states, however there is a certification needed. This is often taken after becoming a real estate agent and knowing the market or working under a certified appraiser for a length of time prior to taking the certification testing.