Definition of Appraisal
Appraisal
ap·prais·al
Definition/Meaning
(noun)
the action or process of assessing/evaluating the value, significance, or extent of something, or an instance of this;
e.g. You must wait for the appraisal of your report before proceeding. In his appraisal, the damage will be easy to repair.
(noun)
an estimation of the value/worth of some asset such as a vehicle, building, or piece of property, given by an authorized person or expert;
e.g. We asked for their appraisal when deciding the amount for which we would sell the house.
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