Appraisals: Used mostly for loans?

[Samantha M.]

From my limited understanding and searching around on google, it seems appraisals are mainly important when there is a loan of some sort involved. Whether its a bank or hard money lender, and the former typically both require them.

So with that being said, are appraisals even used for a cash only purchase in a typical retail flip, or rental flip? It seems there is little use getting an appraisal on a finished product if you are not using a loan. Because if its ARV your going after you have comps and tax roles, appraisals dont really contribute to that.

I would appreciate any clarification, thanks for your time