Property valuation is the process of determining the worth of a property, which can include land, buildings, or other structures. This assessment is typically conducted by a professional appraiser who considers various factors such as location, size, condition, and market trends. Accurate valuations are essential for buying, selling, or financing properties. The valuation can be influenced by comparable sales in the area, the property's unique features, and economic conditions. Different methods, such as the cost approach, sales comparison approach, and income approach, are used to arrive at a fair market value. Understanding property valuation helps stakeholders make informed decisions.