LG Appraisals

Appraiser jargon! Have you heard an appraiser use any of these terms? Did you just hear one of our appraisers use it and you came here to figure out what it meant? We don't mean to speak a foreign language, but any profession has its jargon. What res ipsa loquitur is to a lawyer and triple witching is to day traders, external obsolescence is to appraisers. On this page, we'll give some examples of common appraiser jargon and their meanings. If you have a question about any of these terms or need an explanation of an item on your appraisal, feel free to contact LG Appraisals. Adjustment. When comparable properties have been identified, the appraiser makes adjustments to the Sales Price of each of the comparable to bring them into equivalency with the subject property, accounting for differences in location, construction quality, living area, acreage, frontage, amenities and the like. This is where the professional expertise of an appraiser is most valuable.