expertise in your region. Their job is to determine an estimated value by examining the property, looking at the original purchase price, and comparing it to recent sales of similar properties. The fee for this service is usually between $300 and $500. COMPARATIVE MARKE TIVE MARKET ANALYSIS BY A REAL ES IS BY A REAL ESTATE PROFESSIONAL This home valuation is free from real estate professionals and more helpful than automated online information. It provides detailed information on each house sold in your area over the last six months, along with the final sale price. It also includes the specifics of all the houses for sale in your area, including the asking price. These homes are your competition. The real estate professional will also answer any questions and help you price your home realistically. Along with an understanding of how the worth of a home is determined, the current market has to be considered. By utilizing a professional real estate agent, you can rely on proven expertise to market your home at the best listing price. I’ll be happy to provide you with a Comparative Market Analysis (CMA). See the last page of this book if you would like more information on how to request a free home valuation.
EXAMPLE OF DIFFERING HOME VALUATIONS:
Let’s say a buyer is interested in a home listed at $420,000. The online valuation determines the house is worth $440,000. Based on that estimate, the buyer offers the asking price. When a professional appraisal comes in at $400,000, and the existing tax records assess the home at $300,000, the buyer wonders why the values are so different, and if he overpaid.
The house was listed at $420,000 because, at that price, the home
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