Question

The purpose of an appraisal is to

a. estimate the value of the property

b. set the market price of a property

c. determine the projected income of a property

d. set the amount of consideration the seller should accept from a purchaser

Answer 1

The purpose of an appraisal is to estimate the value of the property.

Step-by-step explanation:

The purpose of an appraisal is to estimate the value of the property. It is a process that involves evaluating the various factors that contribute to the value of a property, such as location, condition, and market demand. Appraisals are typically performed by licensed appraisers who use established methods and techniques to determine the estimated value of the property.