Question #5



How often do properties sell below appraised value?


 

This is a difficult question to answer because it suggests that brokered properties or chattel typically bring their appraised price, which is just not true.

Whose appraisal? A seller's agent's - a buyer's agents', a municipality? A LENDERS? This is especially true in our current recovering market.

This Auctioneer has a good deal of training and experience in appraisal of both real estate and personal property. Appraisal methodology, while a helpful tool in the decision making process is at best an imperfect science.

  • An appraisal is a document.
  • The value expressed is an opinion.
  • It only represents the past. Not the present nor the future and is represented in past dollar values.

How many times have you heard someone say that "something is only worth what someone is willing to pay for it"?

How about what more than one person is willing to pay for it?
Given the choice as a seller, I'll take the latter.


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