Appraised Value

  

This is NOT the dumpy offer you got when you tried to sell your too-small designer jeans on eBay last month. (Do the words "Ben and Jerry’s" have anything to do with this auction?)

Appraised value is more applicable to valuing your home for tax purposes and/or resale. You might check Zillow for ballparks of its market value. In this case, a mush pot of statistics were used to determine how much your house appears to be worth (based on its lot, location, average prices in your 'hood paid per square foot, how old it is, what school district it's in, and whether or not there are a whole bunch of homes for sale in the area).

You’ll get an appraised value, which will be the value given by the appraisal management company. This value is going to be more specific than the market value because the appraiser has been in the house and evaluated it up front and center. (I.e., if you’ve got fireplace cracks, the appraiser will notice and ding the value of your home.)

Related or Semi-related Video

Finance: What is Counterparty Risk?9 Views

00:00

Finance a la shmoop what is counterparty risk?

00:06

alright here's you the party and here's the guy you're contracting with to sell [Woman and man stood side by side]

00:12

18 tons of bricks or buy a line of credit for your flower shop or sell a

00:17

futures contract with the right to buy oil at 80 bucks a barrel for the next [Person signs contract]

00:21

two years so you're the party and he's the counterparty and the yin and yang of

00:27

the party and here's the risk yeah well the counterparty risk is just

00:31

that the person you contracted with doesn't live up to their end of the

00:35

bargain you pay them good money you sign a good contract all lawyered up and [Stack of money and contract appears]

00:40

stuff and then they split like totally split disappeared sea men choose the

00:44

bottom of the ocean maybe they went to Bora Bora

00:47

maybe they got facial surgery in the Philippines you know they do that now [George Clooney in a surgical bed]

00:50

well when that happens you will probably feel like crying and you should its your

00:54

counterparty you can cry if you want to come on that was a good reference people [Man singing]

Up Next

Finance: What is the Difference Between Market Value and Book Value?
42061 Views

What is the difference between market value and book value? These two figures describe what a company is worth. Book value does this by finding the...

Finance: What is Event Risk?
6 Views

What is Event Risk? Event risk just means that some random event has taken place that has affected a company’s ability to conduct business and co...

Finance: What are Systematic and Unsystematic Risk?
14 Views

What are systematic and unsystematic risk? Take a risk on this video and hit play.

Find other enlightening terms in Shmoop Finance Genius Bar(f)