n.
An unscrupulous company that provides misleading or erroneous appraisals, particularly for real estate.
Example Citations:
Still, some experts say the system needs an overhaul, from the "appraisal mills" and "mortgage mills" that started the frenzy to the "foreclosure mills" now in play.
—Kimberly Miller, " Halt reveals lenders', firms' dubious moves: http://www.palmbeachpost.com/money/real-estate/halt-reveals-lenders-firms-dubious-moves-990456.html," Palm Beach Post, October 24, 2010
And as it turns out, there are plenty of legitimate concerns about the new reforms, including the establishment of Appraisal Management Companies — unregulated third-party appraisal mills.
—Joe Weisenthal, " Wait, Maybe The Realtors Aren't Wrong This Time: http://www.businessinsider.com/wait-maybe-the-realtors-arent-wrong-this-time-2009-6," The Business Insider, June 25, 2009
Earliest Citation:
It is likely that if I replied the sender would suggest I order a domain value "appraisal" from a party of his choice, maybe sedo (via an affilate [sic] link) or a appraisal mill.
—" Domain scam email: http://ambrand.com/2006/03/14/domain-scam-email/," Ambrand.com, March 14, 2006
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New words. 2013.