How Do You Spell APPRAISAL REPORT?

Pronunciation: [ɐpɹˈe͡ɪsə͡l ɹɪpˈɔːt] (IPA)

The spelling of the phrase "appraisal report" is quite straightforward. The first word, "appraisal," is spelled /əˈpreɪzl/, with the stress on the second syllable. The second word, "report," is pronounced /rɪˈpɔːt/, with the stress on the first syllable. In terms of the phonetic transcription, the two words are identical except for the stress placement. An appraisal report is a document that assesses the value or worth of something, such as a property or an employee's performance.

Meaning and Definition
Etymology
Basic Check Advanced Check

APPRAISAL REPORT Meaning and Definition

  1. An "appraisal report" refers to a comprehensive document that presents a professional assessment or evaluation of the value, condition, or quality of a specific asset, property, or item. This report is typically prepared by a qualified expert, such as an appraiser, and serves as a formal written statement that outlines the findings and conclusions derived from a detailed examination and analysis.

    The appraisal report is instrumental in a variety of contexts, including real estate, art, antiques, jewelry, and business valuation. It aims to provide an unbiased and objective opinion regarding the worth, authenticity, or marketability of the subject property or item. The report usually encompasses various crucial elements, such as a detailed description and specification of the asset, a thorough analysis of comparable properties or items, an examination of relevant market conditions, and the appraiser's methodology or approach to arrive at the assessed value.

    Furthermore, the appraisal report may also contain photographs, measurements, sketches, or diagrams to further illustrate the appraiser's observations. The document typically adheres to established standards and guidelines set by professional organizations or regulatory bodies within the specific field. It is utilized by individuals, businesses, financial institutions, insurance companies, or legal entities when making informed decisions, determining fair market value, establishing insurance coverage, settling disputes, facilitating transactions, or for taxation purposes.

    Overall, an appraisal report is a comprehensive and authoritative document that provides an expert opinion on the value, condition, or quality of a specific asset or item, aiding individuals and organizations in making informed choices.

Etymology of APPRAISAL REPORT

The etymology of the word "appraisal" can be traced back to the Latin word "appretiare", meaning to set a price or value upon something. This Latin word ultimately derives from the combination of "ad" (to) and "pretium" (price or value).

The word "report", on the other hand, comes from the Old French word "reporter", which means "to give an account of" or "to relate". It has its roots in the Latin word "reportare", which combines "re" (again) and "portare" (to carry).

Therefore, the etymology of the term "appraisal report" suggests that it refers to a document or written account that provides a valuation or assessment of something, often in terms of its worth or value.