Definition: Appraised value is the value conclusion reached in an appraisal for a specified property interest, effective date, and type of value.
Example
A home under contract for $320,000 receives an appraised market value of $310,000.
Keep the distinction clear
Appraised value, the contract price, and the property-tax assessment can differ. Identify which number the question requests.
Related terms
Appraisal · Market Value · Price
Keep studying
CMA vs. Appraisal: What Is the Difference?
References: California DRE: appraisal and valuation concepts
Pronunciation (US): uh-PRAYZD VAL-yoo (capitals show stress)
Pronunciation reference: Merriam-Webster
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