What is the difference between Appraised, Reserve, True and Net Value?
The Appraised value is what the bank will generally use as an opinion of value. The Reserve is what the Seller will sell the house for to a Buyer, not considering closing costs. The Net value is, at the end of the day, what the Buyer will pay in full and what the Seller will put in their pocket, after all expenses have been paid by both. The True value is what any Buyer will pay including their add-on expenses for the Auction item.
