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.

Courtesy of The Grand Harbor Expert, REALTOR® | Click here for printer-friendly format

Contact Your Grand Harbor Expert

Thank you for visiting our website!

Please call us, or fill in the form below so that we may be of service to you. By listening carefully to all your responses, we can find you the property of your choice. We will use all of our resources to assure your satisfaction. Thanks again for visiting.

Sally Baskin - 772-321-6148

Your Contact Info

* Required fields are blue

First Name
Last Name
E-mail
Phone

What Are You Looking For?

Property Type
Price Range
 to 
Desirable Towns or Communities
Bedrooms
Bathrooms
Square Footage
Time Frame

Your Address

Address
City
State/Province
ZIP/Postal Code
Your Message