What is the difference between an appraisal and a brokers price opinion?
A certified appraisal is a formal, impartial estimate or opinion of value, as of a specific date, and supported by the research and analysis of relevant data. It is prepared for reliance by identified parties, and for which the appraiser accepts responsibility. A market analysis or broker price opinion is an informal estimate of market value., based on comparable properties sold in the neighborhood preformed by a real estate agent or broker.
