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How is a home's value determined? |
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You have several ways to determine the value of a home.
An appraisal is a professional estimate of a property's market value, based on recent sales of comparable properties, location, square footage and construction quality. This service varies in cost depending on the price of the home. On average, an appraisal costs about $250 for a $100,000 house.
A comparative market analysis is an informal estimate of market value performed by a real estate agent based on similar area sales and property attributes. Upper Allegany Realty Inc. offers free analyses as part of our service.
You also can get a comparable sales report for a fee from private companies that specialize in real estate data or find comparable sales information available on various real estate Internet sites.
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