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What is a Relocation Appraisal? |
The value of your home never remains the same. Its value today is probably not the same as when you bought it, and it probably won’t be the same a year from now. As a result, your employer or a relocation company may obtain one or more appraisals to assess the anticipated sales price of your home in connection with your move. Sometimes an average of two or more appraised values is utilized (depending on the company's policy) and an additional appraisal might be undertaken if there is any significant discrepancy. A relocation appraisal is an estimate of the anticipated sales price at which your home will sell in the current market within a reasonable length of time, based on what appraisers call the sales comparison analysis. The appraiser inspects your home, analyzes the factors that influence the market, and reaches a value conclusion. Marketing time depends on the conditions in your community, but the definition of anticipated sales price indicates "a reasonable marketing period, not to exceed 120 days and commencing on the date of appraisal (inspection), is allowed for exposure on the open market."
Click here for more information about Relocation Appraisals from the Appraisal Institute
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