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Glossary of Terms

Original Appraisal (OA)

A formal, impartial estimate or opinion of value, usually written, of an adequately described property, as of a specific date, and supported by the presentation and analysis of relevant data. It is prepared as a result of the retainer, for reliance by identified parties, and for which the appraiser accepts responsibility. Only a state-certified appraiser can provide a certified appraisal. C.f. BPO, CMA: informal estimates.