What is a relocation appraisal?
A relocation appraisal is an opinion of the most probable sales price of your home in the current market within a reasonable time frame based upon the Direct Sales Comparison Approach to value. A reasonable marketing time depends upon your immediate market area, but the Employee Relocation Council suggests a reasonable marketing period to be up to 120 days. Generally the relocation companies require two appraisals to estimate this “market value”. The average of these estimates are used to arrive at the market value for relocations purposes. If there is a large difference in the two values a third appraisal may be required.
