Home Valuation VS. Property Appraisal
Posted by Admin Staff on
What's the difference between a home valuation and a property appraisal?
If you've begun the process of selling your home, you've likely already come across these two terms. While it's easy to get confused - because they are similar - there's a difference that sets these two terms miles apart in the eyes of the law. Put very simply, that difference is estimate vs. exact. Let's delve further into this difference:
Home Valuation
Home valuations are done by real estate professionals in order to estimate the value of a property. The method they use to do this is called a Comparative Market Analysis, also simply known as a CMA. A Realtor will examine previously sold properties with similar features in the area to create a report. This report…
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