Who typically utilizes market value appraisals?

Market value appraisals are utilized by a variety of stakeholders in real estate, making the option that states "all of the above" the most comprehensive and accurate choice. Buyers and sellers use market value appraisals to understand the worth of a property, which helps them make informed decisions during transactions. Real estate agents also rely on these appraisals to advise their clients on pricing strategies and to provide data that could facilitate negotiations.

Moreover, courts utilize market value appraisals in legal proceedings, particularly in matters involving property disputes, divorce settlements, or estate valuations. Mortgage lenders use these appraisals to assess the value of a property being financed, which is essential for determining the amount of loan they are willing to provide. Consequently, a market value appraisal serves a broader purpose that encompasses all the parties mentioned, confirming that multiple stakeholders in the real estate market value the insights provided by appraisals for various reasons.