by 
The Curious Bag
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<h4 class="dechead">On One Hand: Appraisals Are Needed Before Buying or Selling
Before you buy or sell real estate or refinance your home, banks and other lenders will require an appraisal to find out what the property is worth. Because this is a subjective process, you could get different appraisals from different appraisers. However, the appraisal amount should be approximately the same for each appraisal.
On the Other: If You Aren't Moving, You Don't Need One
Unless you are curious about what your home is worth, you do not have to have it appraised unless you are selling or refinancing.
Bottom Line
While appraisals are necessary to determine the market value of your home, you cannot depend on the appraisal figure to guarantee what you can sell your home for, according to MetLifeHomeLoans.com. Other factors, such as the home's condition, can affect what the home actually sells for. The appraisal does not commit you to taking any action to buy, sell or refinance your home but it is a necessary tool.
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