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An appraisal will include a visual inspection of the home, which will include the approximate age and condition of the house, the number of bedrooms and bathrooms, the condition and amenities of the kitchen, and so on. The appraiser is looking for features of the house, as opposed to the structural soundness that a home inspector looks for. The appraiser will estimate a value for the house, either based on what it would cost to construct a similar home (including land) or by comparing the house to other, similarly appointed homes in the area that have recently sold.
|Jennifer Mathes, Ph.D.|