When do you need an appraiser?

An appraiser comes to your home, measures it, takes a general look around, and then compares your home to other similar homes in your neighborhood.  When he's done, he types up all the information on a form (Fannie Mae 1004); at the end of that form is a value -- the worth of your home based on current market value.  You can then take that value and use it to either refinance your house or to sell your home at a reasonable and market-supported price.

So if you are hoping to refinance or sell your home, an appraiser is the person who will help you assess the value of the house.  From time to time, appraisers are also called upon for estate sales, to determine the value of property for inheritance, in cases of divorce, and to protest real estate tax valuations.