An appraiser is a licensed or certified professional who provides an independent, impartial estimate of a property's market value based on physical inspection, market data and recognized valuation methodologies. Their conclusions are documented in a formal appraisal report.
In real estate transactions, appraisers are most commonly engaged by lenders to confirm that a property's value supports the requested loan amount. They also play a critical role in home equity lending, estate settlements, tax appeals and litigation support. Appraisers must comply with the Uniform Standards of Professional Appraisal Practice (USPAP), which governs objectivity, methodology and reporting integrity.
For loan originators and valuation companies, appraiser independence is non-negotiable — lender influence over value conclusions violates federal guidelines. Homebuyers and sellers should understand that the appraiser represents the lender's interest in protecting collateral, not the transaction itself.