What does appraisal fraud mean?

appraisal fraud meaning in Law Dictionary

Using untrue assessment to improve prices. It changes the security required and produces more expensive financing. Appraisers and homeowners do this.

appraisal fraud meaning in Business Dictionary

usage of an inaccurate assessment to affect the sale or buy of a home, by increasing the value, altering the perceived collateral value of a purchase, or falsely qualifying for more favorable financing. Appraisal fraudulence are dedicated by appraisers showing untrue data, or by homeowners altering honest appraisals.