An appraisal is an opinion of value. For estate planning, financial planning, or sale price decisions, individuals or a trusted adviser typically order an appraisal. When an appraisal is used to obtain an opinion of value of a property for loan purposes, federal regulation requires the lender to place an appraisal order. The lender then contacts a state licensed or certified appraiser and identifies the property to be appraised and the intended use of the appraisal. The appraiser then determines the appropriate scope of work for the assignment.