A real estate appraisal is the determination of the value of a property. This is based the best use of the real estate property, translating into the fair market value of the property. The person who executes this is a real estate appraiser. The value determined by this appraiser is considered the fair market value of the property. This affects not only the value of your home but also the value of every home in your neighborhood, thus having a proper evaluation done is crucial. The real estate appraisal is done by using several different methods of comparison. Taking accurate measurements of the property to be assessed and comparing it to the other local prosperities with similar dimensions and amenities. A proper appraisal will also assign two values to the same property. The first is improved value, typically when someone maintains and improves upon the property and vacant value, when it is left vacant and available for use. This appraisal is most applicable for use with pricing a home or property for sale, however if an investor is evaluating the property it would be of little use to him. The investor gauges the property based on developments and activities around the location. This allows the investor to note where the housing and commercial market is at present and enables them to forecast where it will be in 2 or 5 years when they are prepared to get a return on the investment. The best method of determining what you will need will be to ascertain what kind of approach you have to the property. If you are buying it to live as your primary residence your appraiser’s results will be crucial to the buying and selling process. If you plan to use this property to rent or flip and sell, or just sell out right, you are an investor and should approach the research of the home appropriately. Your real estate agent can point you in the right direction for your needs.