I get asked all the time about appraised values and what they mean, so today I’ll explain how appraisals work and how you can get a valuation of your home without actually paying a lot of money for an appraisal. When buyers obtain a mortgage loan to buy a house, the house in question is required to have an appraisal. Basically, an appraisal is an independent home valuation that banks order through a third-party company who supplies the appraiser. How is this different from a CMA, though? To find out, watch my latest video.