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Real Estate Appraisal Paper

424 Words2 Pages

If you are selling a property, you want to make sure your price is right. Since the value of real estate can fluctuate up and down, it is a good idea to look into real estate appraisal services. Metro Appraisal Associates , is located in Rochester but serves Monroe and surrounding areas in Western New York. They have been handling both commercial and residential real estate appraisals since 1974 and have certified appraisers that can serve clients in all 50 states as well as Canada, Mexico, and the Caribbean.
A real estate appraisal is when a certified appraiser views your property and gives you their professional opinion of its worth or market value. The actual value of your property is determined by the market analysis as well as analyzing the recent sale prices of similar properties located in your area. The condition of your property also plays a role in assessing the value. …show more content…

The main reason is to make sure that if you decide to sell your price correlates with the actual value of the property. Just as you would not want to price your property too high, you would not want to go too low and lower your potential profit.
The value of your property also plays a part when it comes to tax assessment reviews. Your property is taxed according to its deemed value. With the changing real estate market, your property could actually have decreased in value from when you first purchased it. You could be paying too much in property taxes, but if you request a tax assessment review, an appraisal of your property could determine the current value of your property. If it has decreased, you could see a reduction in your

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