What is the difference between market value and appraised value for your home?
Posted by Wally Fakhreddine on
Edmonton Real Estate Market Advise:
The appraised value of a home is a certified appraisers opinion of the worth of a home at a given point in time. Lenders require appraisals as part of the loan application process, appraisers fees range from $200-$300. Market value is what price the home will bring at a given point in time. A comparative market analysis is an informal estimate of market value, based on sales of comparable properties, preformed by a Real Estate Agent. Either an appraisal or comparative market analysis is the most accurate way to determine value.
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