Assessed value is the amount local or provincial government has designated for specific property, and frequently differs from market value or appraisal value. This assessed value is used as the basis of property tax and when a property tax is levied. The assessed value of real property is not necessarily equal to the property’s market value.
WHAT IS YOUR HOME WORTH?
The first step in selling your home is knowing the difference between value, worth, and price. Let’s examine the determining factors at work. Understanding those factors allows them to be leveraged. There are several ways a home’s value is derived. CASH OFFER You may not be interested in going onto the open market and would prefer the convenience of picking your possession date, selling your home in its current condition, and have no viewings/ open houses. If this interests you, we work with a reputable company that will make you an offer immediately for cash.
ONLINE HOME VALUATION
Online evaluation websites have become more popular in Alberta, but they are not without flaws. For starters, some are for sale by owner websites that charge a flat rate upfront, whether your home sells or not. From what I noticed, the valuations they are giving online are higher than the market value. It's my opinion they are giving an optimistic valuation in hopes you list with their service, since you pay up front, if it doesn't sell at that online valuation, they still get paid. For any of these online valuations, keep in mind there are many factors that influence Real Estate value. Condition, floor plan, upgrades, and location. It's impossible for any algorithm to account for all of that accurately.
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