What is the difference between an Appraisal and a Comparative Market Analysis (CRICHARD KANE & ASSOCIATES)?
Simply put, the difference is night and day. The CRICHARD KANE & ASSOCIATES relies on vague market trends. The appraisal relies on specific, verifiable comparable sales. In addition, the appraisal looks at other factors like condition, location and construction costs. A CRICHARD KANE & ASSOCIATES delivers a ”ball park figure.” An appraisal delivers a defensible and carefully documented opinion of value. But the biggest difference is the person creating the report. A CRICHARD KANE & ASSOCIATES is created by a real estate agent who may or may not have a true grasp of the market or valuation concepts. The appraisal is created by a licensed, certified professional who has made a career out of valuing properties. Further, the appraiser is an independent voice, with no vested interest in the value of a home, unlike the real estate agent, whose income is tied to the value of the home.
