The first question you need to ask is what value am I looking for? Refi or Sale Value?
There are two types of value you can obtain for your home, the refinance value and the selling value. The refinance value is the amount of money a bank will lend to you on a particular property. The selling value is the amount of money a buyer will buy the property for. These two values are different depending on several factors includeing market conditions, property condition, etc.
A refinance value is determined by getting an Apprasial done.
A selling value is done by getting a Broker Price Opinion (BPO) done.
You may be asking, what about sites such as Zillow and Cyberhomes? Dont these websites offer a free value of my home? Yes they give you a free guesstimation value. However, this value is neither a refinance or selling value, it is merely a general value of your home.
Summary of Choices to Value your home.
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