Home Appraisal Value Estimator
Comparable Sales Method
Estimate value based on comparable sales in your area
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Formula
Estimated Value = Average Comparable Sale + Adjustments (bedrooms, condition, location)
Frequently Asked Questions
How do appraisers determine home value?
Appraisers primarily use the comparable sales approach, analyzing recently sold similar properties (comps) in the area. They make adjustments for differences in size, condition, features, and location. They also consider market trends and, for income properties, rental income.
What if the appraisal is lower than the purchase price?
If the appraisal comes in low, you can: negotiate a lower price with the seller, pay the difference in cash, challenge the appraisal with additional comps, order a second appraisal, or walk away using the appraisal contingency in your contract.
How much does a home appraisal cost?
A standard home appraisal costs $300-$600, with the national average around $400. Complex properties, rural locations, or large homes may cost more. The appraisal is typically ordered by the lender and paid for by the buyer.
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