Selling Your Home?
Before you put your home on the market, it is in your best interest to get a pre listing appraisal from a real estate appraiser that has experience in your LOCAL market. The appraiser is an unbiased third party with no interest in the outcome of the transaction and can provide you with a snapshot of the current trends in the real estate market. Hiring a professional appraiser to provide an opinion of value can help prevent surprises later and can act as a buffer and remove some of the emotional aspects of negotiating between the buyer and seller. Pricing your property correctly early in the marketing process may help you to get it sold sooner, rather than later. Please feel free to contact us if you have any questions or if we may be of service.
Definition of Market Value:
The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby:
• Buyer and seller are typically motivated;
• Both parties are well informed or well advised, and acting in what they consider their best interests;
• A reasonable time is allowed for exposure in the open market;
• Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto;
• The price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale.
*definition from: The Appraisal Institute’s The Dictionary of Real Estate Appraisal, 5th Edition
The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby:
• Buyer and seller are typically motivated;
• Both parties are well informed or well advised, and acting in what they consider their best interests;
• A reasonable time is allowed for exposure in the open market;
• Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto;
• The price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale.
*definition from: The Appraisal Institute’s The Dictionary of Real Estate Appraisal, 5th Edition