What is the primary goal of a real estate appraisal?

The primary goal of a real estate appraisal is to assess the current market value of a property. This process involves a thorough analysis of various factors that influence property values, including location, condition, size, and comparable sales in the area. The accurate determination of a property's worth is crucial for several reasons, such as ensuring fair pricing in transactions, supporting financing applications for buyers, and aiding in tax assessments or estate settlements.

Appraisers utilize established methodologies and standards to create a detailed report that reflects the property’s value based on current market trends. This objective assessment provides a foundation for buyers, sellers, and lenders, making accurate appraisals essential for smooth transactions within the real estate market.

The other options, while relevant in the real estate context, do not represent the central purpose of an appraisal. Advertising properties, determining financing options, and verifying ownership are important activities related to real estate transactions but do not address the core function of appraising the value of a property.