AU Australia property term
Market Appraisal
Australia-wide
Plain-English definition
A real estate agent's estimate of a property's likely market selling or rental range based on local knowledge and comparable evidence.
Why this matters to a foreign buyer
An appraisal is not the same as a formal valuation by a qualified valuer and may be prepared to win a listing. Ask for supporting comparable sales and obtain a valuation where the decision requires one.
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