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Appraisal value

How do I determine the current value of my home for a loan? Will it be for more than the total market value? It seems to be low on my local tax entity.
  • March 11 2011 - Odessa
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Answers (4)

First, look at your Zestimate...

http://www.zillow.com/wikipages/What-is-a-Zestimate/

It may or may not be accurate.

For LOAN purposes, you will get an appraisal which will determine your market value by the bank. Don't confuse market value with your taxes. You will pay for the appraisal, or the bank will. The appraisal may or may not be near the value of your Zestimate, so I wouldnt base much on that.

  • March 11 2011
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Profile picture for sunnyview
They won't care about the tax value. The bank will only look at the appraisal for loan purposes.
  • March 11 2011
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Profile picture for elflauta
Will the bank be looking at appraised value or market value for the loan?
  • March 11 2011
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The tax assessed value is very often lower than the market value and we love that because that's what our taxes are based on.

If you are doing a loan/refinancing, your mortgage lender will be requiring an appraisal and he/she will be ordering that for you.

Naima
  • March 11 2011
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