“A professional home appraisal is required when selling a home — and it’s also important for refinancing. The unbiased opinion of your home’s value gives potential buyers and lenders a clear picture of a home’s worth.”
–State Farm

“Appraisals are conducted by licensed or certified professionals, who provide opinions as unbiased third parties. The appraiser gets paid for valuing your home but has no skin in the game when it comes to whether you qualify for a mortgage or refinance as a result of their estimate.

An appraiser visits your home for about 30 to 60 minutes to measure its dimensions, examine amenities, and evaluate the overall condition both inside and out, taking photos of the exterior, the garage, and every interior room.”
–Amy Fontinelle, Investopedia