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market value vs. appraised value |
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What is the difference between market value and appraised value?
The appraised value of a Boston MetroWest house is a certified appraiser's opinion of the worth of a home at a given point in time. Lenders require appraisals as part of the loan application process; fees range from $200 to $300.
Market value is what price the house 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, performed by a real estate agent or broker. Either an appraisal or a comparative market analysis is the most accurate way to determine what your home is worth.
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Last Updated ( Tuesday, 29 July 2008 )
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