Profile picture for user399612

How much is my home worth?

I am contemplating a reverse mortgage, and tho I know the fair market value, I believe it is worth more. How do I determine worth?
  • August 19 2012 - Carthage
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Answers (2)

Profile picture for Ofe Polack
The reverse mortgage company will do their own appraisal.
  • August 19 2012
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Profile picture for Connie Klemme

Fair market value typically is the worth, what someone else is willing to pay for it is what you are likely to sell it for so that is the value.  If you know that, then you know the value.  There is also assessed value - which is often different from fair market value but of no real relevance when conducting some type of transaction such as a sale, refi or a reverse mortgage.

If you aren't really sure of the fair market value, perhaps you're referring to a zestimate or an assessmemt and you want to know what it might do in the market today, then the options are, 1.  Get an appraisal  or 2.  Get a local person (agent or appraiser) to do a CMA for you.

  • August 19 2012
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