An Appraiser is a professional (generally licensed) with knowledge of Real Estate markets and skilled in the practice of Appraisal.

When a property is appraised in connection with a loan, the appraiser is generally selected by the lender or mortgage company.

The appraisal fee is usually paid by the Borrower.

Appraising is considered an art, not a science. Although the appraisal process involves mathematical calculation, appraisers also use their own judgment when appraising real property. Therefore, two appraisers might reach different values for the same property.