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It’s an objective opinion of value, but it’s not an exact science so appraisals may differ.

For buying and selling purposes, appraisals are usually based on market value – what the property could probably be sold for.A� Other types of value include insurance value, replacement value, and assessed value for property tax purposes.

Appraised value is not a constant number.A� Changes in market conditions can dramatically alter appraised value.A�

Appraised value doesn’t consider special considerations, like the need to sell rapidly.

A�Lenders usually use either the appraised value or the sale price, whichever is less, to determine the amount of the mortgage they will offer.A�

Used with permission from Kim Daugherty, Real Estate Checklists and Systems ( viagra online con paypal ). cheapest kamagra in uk

Reprinted from REALTOR Magacine Online by permission of the National Association of REALTORS.A� Copyright 2005.A� All rights reserved.A�

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