Bank house appraisal vs. actual value?
Hi all,
Is there a typical estimated difference between what the bank appraises your house vs what a real-estate agent would for a fair price on the market? I understand the banks tend to go on the lower side but what are we saying here, 5%? 10%?
I just got my appraisal from the bank and I am pleasantly shocked and now wondering if based on that alone, my house is worth much more and it's worth moving.
Is there a typical estimated difference between what the bank appraises your house vs what a real-estate agent would for a fair price on the market? I understand the banks tend to go on the lower side but what are we saying here, 5%? 10%?
I just got my appraisal from the bank and I am pleasantly shocked and now wondering if based on that alone, my house is worth much more and it's worth moving.