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What is ‘Appraised Value’?

When buying or selling real estate, it’s important to understand the value of the subject property.  This is called “appraised value”.

  • Appraisals provide an objective opinion of value, but it’s not an exact science so results may differ.
  • For buying and selling purposes, appraisals are usually based on market value — what the property could probably be sold for. Other types of value include insurance value, replacement value, and assessed value for property tax purposes.
  • Changes in market conditions can dramatically alter a piece of property’s value.
  • Appraised value doesn’t take into account special considerations, like the need to sell rapidly.
  • Lenders usually use either the appraised value or the sale price, whichever is less, to determine the amount of the mortgage they will offer.

Next, read about how capital gains can affect you financially!

Check out our Zillow reviews!

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Lisa Taylor

Lisa Taylor

Indiana REALTOR® Crawfordsville Specialist
765-225-4123
Contact Lisa
Listing Alerts Your Property's Value

Testimonials

"Lisa was very detailed when she listed our home and was very good at taking excellent photos of our home to make it stand out and show its best features.... continued"
- Nancy & Dwayne Rater
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Reviews on Zillow
1891219
"Lisa was very helpful in listing my mother-in-law's residence. Once the listing was complete, it was sold the next day! We did have a couple of ... more "
5.0/5.0
by terrig100
1959909
"I first met Lisa when I was looking to buy a house. Her knowledge and expertise made it a great experience so when I had a house to sell I went to ... more "
5.0/5.0
by donnaj8

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Lisa Taylor

Specializing in Crawfordsville
& Western Indiana Real Estate

765-362-4123 OFFICE|765-225-4123 MOBILE
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