An appraiser can find out the market value of a property and mention all the steps of determining it in the form of a report. Banks and lenders highly value the appraisal of a licensed appraiser. The report the appraiser provides acts as a basis for loans, taxes, mortgages, and other things. This report is also used to determine the sale price of the house. It is used for mortgage valuations too. The banks must ensure that in case you fail to pay your mortgage, the bank can sell the property at a value to retrieve the money they have given you as loan.
