488. Meanings of 'valuer', 'appraiser' and 'surveyor'.

The terms 'valuer' and 'appraiser' have similar meanings1. An appraiser is generally taken to be a person appointed and sworn to estimate the value of property2, while a valuer is a person who estimates or assesses values; that is, in the present context, a person who estimates or assesses the worth or value of, or who fixes a price for, property 3. However, while definitions of 'valuer' and 'valuation' commonly place the main emphasis on value or worth in a material sense, an 'appraiser' may also be a person who estimates the amount, quality or excellence of property4.

The term