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What is the difference between market value and appraised value?

The market value of a home is defined as the amount buyers are willing to pay for purchasing it, not necessarily what the seller lists the home for. Unlike the appraised value, which is determined and defined based on an appraiser’s findings, the market value is adjusted based on market conditions.

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.

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.

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