"To require an appraisal" means that something needs to be evaluated or assessed by a professional in order to determine its value, worth, or quality. Full definition
Generally, seller - financed deals don't require an appraisal or an environmental report. (credibly.com)
Secured business funding usually requires an appraisal of the assets used to secure the funding. (peerfinance101.com)
Mortgage lenders require an appraisal on your home before they'll provide a loan for the simple reason that the property is the underlying asset that serves as collateral for the loan. (realtor.com)