What is the term for the property that is being appraised?

The term "subject property" refers specifically to the property that is being appraised in a valuation process. When appraisers conduct an appraisal, they focus on the subject property to determine its market value based on various factors including its condition, location, and comparable sales in the area. This terminology is essential in the appraisal industry because it distinguishes the property under evaluation from other properties that may be analyzed for comparison purposes.

In contrast, "comparable property" describes similar properties that may be used as benchmarks for assessing the value of the subject property, but they are not the property being appraised itself. "Investment property" refers to any property that is held for investment purposes, which may include the subject property if it falls under this category, but does not directly identify it as the property being appraised. Lastly, the term "appraised property" could be misleading since it is less commonly used in the industry compared to "subject property," and might not clearly convey which specific property is being assessed.