Manager's Blog
El Luther
Office: 757-547-4555
TollFree: 800-896-5556
|
El's musings
Status of the Market - As we know, the market place determines the final sales price of any property. The seller sets the asking price. The buyer establishes the offer price. Negotiations set the contract price. The appraiser, using the market place for reference, establishes value for the lender. Neighborhood/area sales and current property condition are two of the major items used by the appraiser to set the value. Notice Seller needs or buyer wants are not part of the valuation formula.
Created by:
lnfdotcom
on
8/4/2011
|