Definition: A reasoned estimate of a property's worth for a stated purpose and date. The method, qualifications required, and intended use depend on the assignment.
Example
A broker uses comparable sales to suggest a listing range, while a lender obtains an appraisal for underwriting.
Keep the distinction clear
A broker's pricing opinion and a regulated appraisal are not automatically interchangeable. Identify the purpose, assumptions, and professional role behind the estimate.
Related terms
Broker’s Price Opinion (BPO) · Comparative Market Analysis (CMA) · Appraisal
Keep studying
CMA vs. Appraisal: What Is the Difference?
References: Florida Statutes 475.611: appraiser definitions
Pronunciation (US): uh-PIN-yun uhv VAL-yoo (capitals show stress)
Pronunciation reference: Merriam-Webster
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