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How Much is Your Home Worth?

So you’ve decided to sell your home and have a fairly good idea of what you think it is worth.

Whether you are moving across town or cross country, I can help you find the home of your dreams. No matter where you are in the U.S., I can sell your home or find an agent in your area that will be committed to you and the sale of your home.

If you are selling your home, buying a new home or just curious, there are numerous approaches to determining the value of a property. The two most common methods are Competitive Market Analysis and Appraisal. 

                            Click here for a free CMA report for your home.

 CMA vs. Appraisal


Competitive Market Analysis (CMA):  usually performed by a real estate agent for either a buyer or seller. This approach compares the price of the subject property with recent sales of similar homes.    

   

 

Appraisal:  a more detailed method employed by a professional appraiser. In most states an appraiser must be licensed. Carries more legal weight than a CMA.   


A Competitive Market Analysis is (or should be) free. A professional appraiser will cost around $300 (for higher valued homes or unique properties, the cost will be more). When a home is sold, both the CMA and appraising methods are usually applied - one before the house goes on the market and before offers are made - one after the house is sold.

When the home is sold, the lending institution will insist that an appraiser be hired.  If the findings do not meet (or exceed) the offer price, there is a problem.  Lenders will base their loan amount on whichever is lower, the sales price or the appraised value.  Sometimes buyers are willing to pay more than the home is worth but lenders will still base their loan amount on the appraised value.  The buyer would have to come up with additional cash to pay the difference.

 
 

Please contact David at 912-996-5119 or email me at davidguynn@georgia.com for more information.

 
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