Appraisal is simply an expert opinion from a state-licensed professional on how much the value of the property really is. An appraiser uses many factors when determining the property value. They do a full detailed report and explain on how they came up with the property value. The first step is to physically examine the property inside and out to see which features bring up the value. They also look at location and recent sales around the property at question and provide anywhere from 3-4 comparables in order to better determine the value. These properties have to be very similar to the property being appraised; to specific components such as: lot size, square footage, garage type, finished or unfinished space, etc.