difference between a market evaluation and an appraisal
By Dale Taylor, Realtor = Chicago Illinois Homes Townhomes Condos
(Re/Max 10 New Lenox Illinois)
The message my good friend Loan Officer Vincent Redd sent me reminded me to share the difference between a market evaluation and an appraisal. Appraisals can be done before procuring a Buyer to help a Seller to determine the value of a home, but they won't be accepted by a Buyer's Lender if paid for by the Seller. Realtors are well trained to provide market evaluations to Sellers as they are thinking about how to price their home to attract a motivated, willing, ready, and able Buyer. Realtors present the most relevant homes primarily deal-pending, and sold within the last 6 months, very similar to the subject property, within a 1 square mile. The report includes all the details about each property, including what the Sellers asked and what the Buyers actually paid. The most vital ...