What is a market appraisal and is it the same as a valuation?
A market appraisal is an estate agent’s professional opinion of the price a property is likely to achieve if marketed correctly. In everyday use, people often refer to a market appraisal as a valuation, but it is not the same as a formal valuation carried out by a chartered surveyor for lending or legal purposes. A market appraisal is still very useful for sellers because it reflects buyer behaviour, competition and current demand.