What is an estimation of a property's value performed by a certified appraiser called?

An estimation of a property's value performed by a certified appraiser is known as the appraised value. This term specifically refers to the professional judgment of a certified appraiser who evaluates various factors such as the property's physical characteristics, its location, recent sales of comparable properties, and current market conditions to arrive at an estimated value.

The appraised value is significant in various real estate transactions because it often serves as a benchmark for lenders in determining how much they are willing to lend to a buyer. It is also used in tax assessments and property insurance.

While terms like market value, assessment value, and fair value may relate to property valuation, they refer to different contexts or methodologies. Market value is often the price a property would sell for in the open market, assessment value typically refers to the value determined for tax purposes by local government entities, and fair value is an accounting term that can encompass a variety of valuation methods. Thus, appraised value is the most accurate description of the assessment conducted by a certified appraiser in this context.