appraisal

/ə'preiz/
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appraisal

The real estate agent writes the appraisal for the new house.

Definition
  1. Noun:
    • An expert estimation of the quality, quantity, and other characteristics of someone or something: A formal or official assessment, often conducted by a professional.
    • A document appraising the value of something (as for insurance or taxation): A written report that states the estimated monetary worth of an asset.
    • The classification of someone or something with respect to its worth: The act or process of judging the value, importance, or condition of a person or thing.
Usage
  • An appraisal is typically a formal, structured evaluation. It is commonly used in professional contexts such as real estate, employee performance reviews, insurance, and finance.
  • The word implies a systematic analysis leading to a judgment or valuation.
Examples
  • As an expert estimation:
    • The manager gave a fair appraisal of the employee's performance over the past year.
    • We need a professional appraisal of the antique vase to determine its age and origin.
  • As a document:
    • The bank required a property appraisal before approving the mortgage loan.
    • Please submit the insurance appraisal for the jewelry with your claim form.
  • As the act of classification:
    • Her critical appraisal of the novel highlighted its strengths and weaknesses.
Advanced Usage
  • Performance Appraisal: A regular review of an employee's job performance and overall contribution to a company.
    • The annual performance appraisal is scheduled for next week.
  • Self-appraisal: The process of evaluating one's own performance, abilities, or characteristics.
    • As part of the review process, you must complete a self-appraisal.
Variants and Related Words
  • Appraise (verb): To assess the value or quality of something.
    • The jeweler will appraise the diamond ring.
  • Appraiser (noun): A person whose job is to assess the value of something.
    • The appraiser determined the house was worth more than the asking price.
  • Reappraisal (noun): A new or fresh appraisal, especially one that differs from a previous one.
    • The economic crisis forced a reappraisal of our investment strategy.
Synonyms
  • Assessment: The act of making a judgment about something.
  • Evaluation: The making of a judgment about the amount, number, or value of something.
  • Estimation: A rough calculation or judgment of the value, number, quantity, or extent of something.
  • Valuation: An estimation of something's worth, especially one carried out by a professional.
Antonyms
  • Guess: An estimate or conclusion formed without sufficient information or calculation.
  • Neglect: The state of being uncared for or not being assessed.
Related Phrases
  • Undergo an appraisal: To be subjected to an evaluation.
    • All company assets must undergo an appraisal every five years.
  • Subject to appraisal: Dependent on or requiring an official assessment.
    • The final offer is subject to appraisal of the property.
appraisal

The real estate agent writes the appraisal for the new house.

Noun
  1. an expert estimation of the quality, quantity, and other characteristics of someone or something
  2. a document appraising the value of something (as for insurance or taxation)
  3. the classification of someone or something with respect to its worth

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