APPRAISAL V VALUATION: WHAT PRICE?
There are significant differences between an appraisal and a valuation. It is important to know when an appraisal will suffice, or when you need a formal valuation. Although appraisals are usually reasonably accurate, they are estimates only and, they do not have the same legal responsibilities as a valuation. Good real estate agents and good buyers agents know the difference and do not use the term valuation when they actually mean an appraisal. This Blog will explain the difference between the two terms. Basic economics of supply and demand. In suburbs such as Turramurra and Wahroonga, clearance rates have plummeted to 40% and
houses are taking between 68 and 85 days to sell. |
