A formal appraisal means assessing an item's value or worth in a proper and official way. It involves expert opinion, analysis, and documentation for determining the accurate value of something. Full definition
If you work on a freelance basis, you may not receive formal appraisals. (theattic.london)
Getting the figures on what these extra endorsements will cost includes handing over details about the size of your home and the value of amenities, as well as other formal appraisal information. (netquote.com)
At CIVIC, we don't require a full, formal appraisal report for properties currently valued at $ 2 million but when cross-collateralization is involved, we do, as well as for properties with five or more units. (civicfs.com)