How does the appraisal process work? Understanding how the appraisal process works is essential for anyone buying or selling a home. The appraisal process involves a licensed appraiser evaluating the property to determine its market value. First, the appraiser inspects the property's condition, size, and features. After the inspection, the appraiser researches recent sales of similar properties in the area, known as comparables. This helps to establish a fair market value. The appraiser then com