A home appraisal is an important step in many real estate transactions, including buying, refinancing, estate planning, or removing private mortgage insurance (PMI). Understanding what happens during the appraisal process can help homeowners and buyers feel more prepared and confident. What Is a Home Appraisal? A home appraisal is a professional estimate of a property's market value prepared by a licensed or certified real estate appraiser. Lenders often require appraisals to
