What is an appraised value?

An appraised value is an estimate of a property’s worth by a licensed appraiser. To determine their valuation, they typically conduct a home appraisal, where they evaluate the home’s condition and features. They will then conduct a market analysis before completing their appraisal report.

What is the difference between market value and appraisal value?

Well, there are two major valuations you’ll need to know: the home’s market value and the home’s appraised value. The main difference between a home’s market value and appraisal value is who determines it: market values are decided by buyers and sellers, while appraisal values are calculated by licensed appraisers.

What is the appraisal value of a house?

In short: the appraisal value of a home is whatever an appraiser determines the house is worth. It’s not up for negotiation like the market value is. Different appraisers may come up with slightly different figures, but they usually won’t be too disparate.