What is the difference between appraised and market value?
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2:47
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I love this one. Who is this bank guy. Appraisers utilize market sales and provide a market value opinion. An appraised value may use slightly dated data (due to the fact the sales have already closed in the recent past) but they are appraising market value. This video has so many things wrong about it I think Keith better take a few appraisal courses (i.e. research/homework) before believing what this bank guy just said.
redfanrod 1 year ago
This guy's an idiot! He obviously doesn't know anything about appraising!!!
NoFatesGurl 3 years ago
Sales agents appraisethe value, which is usually higher than the market value. An Appraisal by the mortgage lender is generally lower then true market value and is usually not done until after a fair price has been negotiated between the parties, so has little effect on the negotiated sale price, unless the lender restricts the buying power. In a healthy market this restricted buyer will be replaced with an unrestricted buyer and the vendor should still acheive true
market value.
kingobnoxious 4 years ago