Appraised Value: Ups Downs And The Arounds Of Finding The Value Of Your Home

Fair Market Value determination is a difficult and complex task that requires a lot of balancing. Buyers want the house to appraise at a low price in order to keep the purchase price down. Sellers want the house to appraise higher so that the selling price is higher. The owners of the house want the appraisal to be low to maintain property taxes. With all these diverse agendas and points-of-view, how can you determine the fair market value for a real estate asset? Your county will send all homeowners in the area notices once a year that place a dollar value on their property. These dollar values are used to calculate property taxes. However, notices are usually not sent without a lengthy and detailed process. The land is first valued as though it were vacant, or an empty lot. Next, any improvements are described. The improvements include the house, any structures, pools or sheds, as well as garages and garages. The Marshall Valuati…
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