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A Real Estate Appraisal is a process of determining the value of a property. When an individual plans to buy or sell an apartment, there will always be a bias between the two rates. If he is a seller, then he might quote a higher value for his property and if he happens to be a buyer, then he might place a lower value for the same property. To overcome this agreement of values for the same property, a reasonable value has to be evaluated based on a few factors so that both the parties, the buyer and the seller can agree on. An appraisal is also required by the banks as it helps to process the home loans applications.
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