An estimate of value, usually in writing, of a property as of a given date is called what?

The term that describes an estimate of value, usually documented in writing, as of a specific date is known as an appraisal. An appraisal is a systematic process conducted by a professional appraiser to determine the fair market value of a property based on various factors, including property characteristics, market conditions, and comparable sales data. This formal assessment provides a reliable value estimate for various purposes, such as buying, selling, refinancing, or tax assessments.

While both market analysis and valuation report involve assessments related to property value, they differ from an appraisal. A market analysis primarily focuses on understanding current market trends and property values but may not provide a formal estimate as an appraisal does. A valuation report is a broader term that can encompass various forms of value assessment, including appraisals, but generally does not denote the formal estimation process that is characteristic of an appraisal itself.