What is the difference between appraised value and market value?
A certified appraiser who is trained to provide the estimated value of a home determines its appraised value. The appraised value is based on comparable sales, the condition of the property, and several other factors. Market value is the price the house will bring at a given point in time, once the buyer and seller establish a meeting of the minds on price. Beware, market trend is a strong factor and may differ greatly from the appraised value. This can have a huge affect on how quickly a property sells.
