Home Appraisal & Valuation Guide glossary
Key terms
Know this
These terms appear in appraisal reports and lender letters, each with a primary source.
Last reviewed against the primary sources listed below.
- Comparable sale
- A recent nearby sale of a similar home used to estimate value. Source: Fannie Mae Selling Guide B4-1.2-01: Appraisal report forms and exhibits
- Adjustment
- A price change an appraiser applies to a comparable for a difference from your home. Source: Fannie Mae Selling Guide B4-1.2-01: Appraisal report forms and exhibits
- Reconsideration of value
- A request asking the lender to have the appraiser review factual errors or other comparables. Source: CFPB: Borrowers can challenge inaccurate appraisals through reconsideration of value
- Appraisal copy rule
- The federal rule requiring lenders to give you a copy of appraisals promptly. Source: CFPB: Do I have the right to receive a copy of my home appraisal?