appraisal market value | BTCC Knowledge

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What is the difference between appraised value and market value?

Market value is how much your property would sell for when placed on the market. Buyers determine this value, and the home’s appraised value or tax assessment value has no bearing on what buyers are willing to pay in an open market. “Appraised and market value are intimately intertwined.

What is appraised value in real estate?

Appraised value is a property’s market value determined by a licensed, objective real estate appraiser. The appraiser considers multiple factors, including the structure and property itself, plus nearby listings or recent sales.

Do appraised value and market value affect a home sale?

Most of the prices you see next to listings online are market values determined by other homes for sale in the area, the home seller, and their real estate agent. However, in real estate transactions, appraised value and market value are both factors that can make or even break the sale of a home.

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