Appraisal of the property is ascertaining market value of a particular property which in turn is dependent on the nature of the property. No market-based pricing method exists for the real estate property. Each property has its own uniqueness and hence prices may differ considerably in the same locality. A property valuer or land valuer who is certified as an appraiser does the duty of assessing the price of the property. There is significant difference between the market value of a property and the price. The market value is the ascertained value of the property based on its specific nature and, of course, based on the nature of the locality. It represents the value at which a transaction takes place between the buyer and seller on the date of the valuation. The price may be more than the market value if the buyer is willing to spend more, taking in to account the investment value of the property.