Question : Will a refinance appraisal give you the same value as an appraisal for assessment purposes?
I'm quite curious about appraisals, and the different kinds there are. I know most people get an appraisal because of a refinance situation. Obviously, the appraiser lists his/her estimate of value. However, if someone were to get one just for assessment purposes, would the value be different? For a refinance, I'm assuming the bank wants to know how much they want to lend the owners. Assessments are totally different. Any information from appraisers or bankers would be greatly appreciated.Thanks!
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All Answers:
Answer #1
It should not.Assessment is for taxes and based ontax laws, it is a calculation, not a value. Whileat one point the actual value was part of theequation it was only part, and only briefly.
- answered by Landlord
Answer #2
For tax assessment? Usually this value and marketvalue are basically unrelated. They may or maynot be same.
- answered by the kid
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