A real estate appraisal helps determine the fair market value (FMV) of a property through a systematic and professional assessment process, which includes the following steps:

Getting an appraisal for a second opinion of value can be beneficial for several reasons.

Accuracy: No single method of valuation is perfect. Different appraisers may use different methods and have varying levels of expertise, which can lead to different valuations. A second appraisal can help verify the accuracy of the first one.