There are many factors that can determine the value and listing price of your home, and ultimately the price you will receive for your property. T he appraised value of your home is conducted by a certified appraiser. The value of your home is based on a comparative analysis of the structure and quality, square footage, location and property value - in comparison with similar homes and property values in the current market.
Lenders require appraisals as part of the loan application process.
T he list price of your home is the price the home is listed at. The list price is usually determined by a combination of the appraised value, the market value and the sellers optimal price requirements. Homes can be listed high or low dependent on the sellers needs and expectations. Most of the time this does NOT require an expensive renovation of the entire house. Patch holes and add paint where needed.