Courtesy of Andrea Swiedler, REALTOR®

What is Appraised Value?

It’s an objective opinion of value, but it’s not an exact science so appraisals may differ.

For buying and selling purposes, appraisals are usually based on market value—what the property could probably be sold for. Other types of value include insurance value, replacement value, and assessed value for property tax purposes.

Appraised value is not a constant number. Changes in market conditions can dramatically alter appraised value.

Appraised value doesn’t consider special considerations, like the need to sell rapidly.

Lenders usually use either the appraised value or the sale price, whichever is less, to determine the amount of the mortgage they will offer.

Used with permission from Kim Daugherty, Real Estate Checklists and Systems, www.realestatechecklists.com

Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2003. All rights reserved.


Contact Information

Prudential Connecticut Realty Andrea Swiedler, Realtor® Prudential Connecticut Realty
337 Danbury Rd
New Milford, Connecticut 06776

Phone: 860.355.2646 Ext. 19
Cell: 203.460.1775 / Fax: 860.350.9592
E-mail: Click here / Website: ANDREASWIEDLER.COM


Home | Featured Listings | Search Properties | Luxury Homes | New Milford CT | Washington CT | Bridgewater CT | Roxbury CT | Kent CT | Cornwall CT | Warren CT | Goshen CT | Candlewood Lake | Lake Waramaug | Search Foreclosures | Property Organizer | Our Blog | For Buyers | First time home buyer | Mortgages | PIck a Winning Team | For Sellers | Price to Sell | Home Value Estimate | Short Sales in CT | Area Information | Pet Friendly | Helpful Links | Contact Me | Relocating? | Andrea's Blog | About Us | WIIFM? | Must Read Articles
rss

Equal Housing Opportunity. This material is based on information which we consider reliable, but because it has been supplied by third parties, we cannot represent that it is accurate or complete and should not be relied on as such. This offering is subject to errors, omissions, change of price or withdrawal without notice.
© BRER Affiliates Inc. An independently owned and operated broker member of BRER Affiliates Inc. Prudential, the Prudential logo and the Rock symbol are registered service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. Used under license with no other affiliation with Prudential. Equal Housing Opportunity.
Copyright |  Privacy |  Terms of use