it probably would sell quickly. Unfortunately, if that were to happen, you and your agent would be selling your house for less than what it truly is worth, and that certainly is nothing to brag about.
In reality, there are only two objective ways to determine a home’s actual market value: a professional appraisal or a Comparative Market Analysis (CMA).
PROFESSIONAL APPRAISAL
A professional home appraiser should be a qualified, disinterested appraisal specialist with expertise in your area. His or her job is to objectively determine the estimated worth of a home at a specific point in time by physically inspecting the home, reviewing all relevant public records, and weighing the characteristics of a home against recent comparable sales of similar homes in the same area.
The important factors in a home appraisal are:
• Dwelling type • Location • Age of property • Size • Quality of construction • Condition • Improvements made • Depreciation • Comparable sales
Be aware that the appraised value of a home can fluctuate according to the underlying purpose of the appraisal. For 6
Powered by FlippingBook