What is my home worth is an old question with the same the answer – “It’s worth as much as someone else is willing to pay for it”. Well not exactly … in order for the buyer to secure financing your home should still appraise at or above the selling price.
What is the difference between an Appraisal and a Comparative Market Analysis?
- Comparable properties that have recently sold (3 – 6 Months),
- Properties that are currently listed in the Multiple Listing Service (MLS)
- How long similar properties have been on the market
- Property listings that have expired or have not sold
- Location (such as corner lot, school district, street traffic, proximity to highways etc.)