SELLERS SERIES : An appriasal can be ordered for many reasons. For instance a bank will order an appraisal of the house before they agree to refinance the loan. An appraisal may tell a lender the replacement value of a home or whether the home is a good business decision for the bank. It can be ordered to dispute a property tax increase or to prove replacement value to an insurance company.
BUT an appraisal won't help you determine the best price to get the house sold for one simple fact. An appraisal tells you what the lenders or the county think your house is worth, but ti doesn't tell you what the buyer thinks it's worth. In a perfect world, [and a seller's market] a buyer will base their opinion of what the house is worth on their agent's market analysis, not their appraisers report. However if the buyer is putting less than 20% down (and these days more like 25% down) that appraisal's opinion can be the seller's worst enemy. Want to know more about this issue. Contact me directly.
Take a look at the video below (length :53)