# Home Appraisal

*Real Estate — Finicade finance glossary*

An appraisal is a licensed valuer's independent estimate of a property's market value, ordered by the lender to check that the collateral supports the loan. An appraisal below the agreed price forces a decision: renegotiate, pay the gap in cash, or walk. It differs from the assessed value used for tax and from a listing agent's opinion, both of which are computed for different purposes.

**Also known as:** appraisal, valuation survey, appraised value

**Related terms:** [Assessed Value](https://finicade.com/glossary/assessed-value), [Comparative Market Analysis](https://finicade.com/glossary/comparative-market-analysis), [Loan-to-Value Ratio (LTV)](https://finicade.com/glossary/loan-to-value-ratio), [Mortgage](https://finicade.com/glossary/mortgage), [Closing Costs](https://finicade.com/glossary/closing-costs)

Source: https://finicade.com/glossary/home-appraisal