J.P. Weigand & Sons Real Estate
J.P. Weigand & Sons, the Trusted Name in Hutchinson Real Estate

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Selling A Home - What Is Appraised Value?

It’s an objective opinion of value, but it’s not an exact science so appraisals 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.

Appraised value is not a constant number. Changes in market conditions can dramatically alter appraised value.

Appraised value doesn’t consider 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.

Weigand Proudly Serves The Following Areas Arlington Buhler Burrton Cheney Derby El Dorado Geneseo Halstead Haven Hutchinson Inman Little River Lyons Marquette McPherson Moundridge Mount Hope Nickerson Pretty Prairie Stafford Sterling Sylvia Valley Center Viola Wichita
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