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A person licensed to estimate the value of a property. The appraiser may take into account the quality of the property, values of surrounding properties, and market conditions in the area. One becomes licensed or certified as an appraiser generally through education, testing and work experience, though the specific requirements vary by state.


One who performs appraisals of real or personal property.The various associations and organizations for real estate appraisers include:

• Appraisal Institute ( Offers the designation MAI, among others.

• National Association of Independent Fee Appraisers (NAIFA) ( Founded in 1961.

• National Association of Master Appraisers (NAMA) ( Founded in 1982. It offers three designations: Master Residential Appraiser; Master Farm and Land Appraiser, and Master Senior Appraiser.

• National Association of Real Estate Appraisers (NAREA) ( Founded in 1966.

• National Association of Review Appraisers and Mortgage Underwriters (NARA/MU) ( Founded in 1975.

• National Society of Real Estate Appraisers (

• American Society of Farm Managers and Rural Appraisers (


A professional with knowledge of real estate markets and skilled in the practice of appraisal.

When a property is appraised in connection with a loan, the appraiser is selected by the lender, but the appraisal fee is usually paid by the borrower.
References in periodicals archive ?
A written agreement to appraise the loss requires both understanding of the nature of the dispute regarding loss and value, and clarity about how the values need to be reported by the panel to the parties.
Use of a clear, concise, and complete agreement to appraise a loss is a key element in ensuring the finality of a claim.
However, if the transaction is contingent upon financing and the premises do not appraise out, the purchaser must still proceed with the transaction with the lower loan amount and will not have an opportunity to negotiate the sales price.
The IIGF - now fully operational and engaged in supporting PPP projects - was established by the Indonesian government to appraise and guarantee all PPP projects requiring government guarantees.
The World Bank project is designed to help the IIGF establish operational norms which meet international standards, and build internal IIGF capacity to screen, appraise and supervise PPP projects.
"In the same way some people have been concerned we have been overregulated, what appraisers don't want to see is their customes telling them how to appraise property," he said.
As per OM no 1/22/2012-PPP dated 18.02.15, PPPAC appraises and approves the Total Project Cost (civil cost + centages) of BOT projects, where the financing is expected to be raised by the concessionaire.
However, in case of EPC projects, the EFC/PIB appraises and approves Capital Cost that includes construction cost, centages, cost of pre-construction activities and the cost of Land Acquisition cost; Above said multiple stages of examination and appraisal of the same project by different Ministry/Department/Committees cause avoidable delays in award of NH projects.