Purpose of A Property Appraisal

    A property appraisal is an informal estimate what your home may be worth, which is commonly given as a free service by real estate agents.

    It is an educated opinion based on recent, comparable sales data in your area, current market sentiment plus the agent’s insight into the features of your home that will either create a lot of buyer interest and competition or any negative features, which may limit interest and the price buyers are prepared to pay. It is worthwhile to request an appraisal from different agents before you choose who you are going to use to sell your property.

    However, it is also important to do your own research, so you can either agree or disagree with the agent as well asunderstand the rationale behind their pricing strategy.