What is the primary goal of an appraiser when conducting a residential appraisal?

The primary goal of an appraiser when conducting a residential appraisal is to provide a value estimate based on market data. This process involves analyzing various factors such as comparable properties, market trends, and property-specific characteristics to determine a fair market value. Appraisers rely on objective data to ensure that their assessments are accurate and impartial, which is essential for establishing a value that can be used in real estate transactions, financing, and property taxation.

The emphasis on providing a value estimate is critical in the context of real estate, as it helps buyers, sellers, and financial institutions make informed decisions. It also supports the integrity of the market by promoting transparency in property valuations. This approach is grounded in the appraiser's duty to maintain objectivity and professionalism in their work, ensuring that their estimates reflect true market conditions rather than personal opinions or external pressures.