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LSDefine
Simple English definitions for legal terms
appraiser
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A quick definition of appraiser:
An appraiser is someone who is really good at figuring out how much something is worth. They look at things like houses, jewelry, and art to decide how much money they are worth. This is important when people want to buy or sell things, or when they need to get insurance for their stuff. Appraisers have to get a special license or certification to do their job, and they have to be really good at what they do!
A more thorough explanation:
An appraiser is a professional who is hired to determine the value of an object or property. This process is called an appraisal and is often required for various purposes such as buying, selling, refinancing, or insuring property. Appraisers can specialize in different areas such as real estate, art, jewelry, or antiques.
Appraisers must obtain a certification or license before they can start appraising property. The type of certification or license required depends on the type of property they specialize in and the state they work in.
- An appraiser is hired to determine the value of a house before it is put on the market.
- A jewelry appraiser is hired to determine the value of a diamond ring for insurance purposes.
- An art appraiser is hired to determine the value of a painting before it is sold at an auction.
These examples illustrate how appraisers are hired to determine the value of different types of property for various purposes such as selling, insuring, or buying. The appraiser's expertise in a specific area allows them to provide an accurate appraisal of the property's value.