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A qualified appraiser will compare recent sales of similar localproperties, market trends and conduct a visual inspection of the home’s interior and exterior to determine the property’s fair marketvalue. Should the appraisal come in lower than the contract price, the closing process may be impacted.
Market Condition Adjustments Illustration Fannie Mae guidelines emphasize that adjustments made to comparable sales are based on market changes between the contract date of the comparable sales and the effective date of the appraisal. This is shorthand that every experienced appraiser knows and understands please dont @ me.
The commercial real estate appraiser’s role is to produce an accurate, reliable, and unbiased estimate of the marketvalue of a property. Marketvalue is the most likely selling price a knowledgeable buyer would pay to a knowledgeable seller. And, can you really expect equivalent costs for rebuilding the property?
MarketValue vs. Investment Value Sometimes, the price youre willing to pay doesnt align with the broader market because of your specific goals or unique resources. Distinguishing between marketvalue and investment value is key to smart deal-making. Direct control but higher time commitment.
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