Got a request for an appraisal from a local bank. It was for a refi. Attached was a printout titled " a personal Home Market Evaluation". It is from a local RE agent. In small print was "powered by Housevalues.com.
It has some information about several homes that have sold in the area and a range of value with the statement, "Based on my knowledge of the area, my estimate of your home"s current value is: low of $zzz,zzz to a high of $zzz,zzz.
On the page that gives the info about 4 sales in the same master development is the statement," this is not an appraisal, only an estimate of the current market value of your home.
I checked, and just before blank space on almost all of the forms I use is the statement thart includes the words " estimated value". Isn't the estimated value of a property an appraisal? Do I need more training?
Conrad
It has some information about several homes that have sold in the area and a range of value with the statement, "Based on my knowledge of the area, my estimate of your home"s current value is: low of $zzz,zzz to a high of $zzz,zzz.
On the page that gives the info about 4 sales in the same master development is the statement," this is not an appraisal, only an estimate of the current market value of your home.
I checked, and just before blank space on almost all of the forms I use is the statement thart includes the words " estimated value". Isn't the estimated value of a property an appraisal? Do I need more training?
Conrad