The Carvajal Group Blog

What is a real estate appraisal?

January 12th, 2010

Real estate appraisals are the valuations of a real estate property. In most cases, the valuations of assets like property are done in the open market, where the property’s value can be determined by supply and demand.

However, in many cases, the value of real estate property cannot be determined in the open market because it is not liquid. This means that it cannot be easily converted into cash.

For this reason, real estate properties are typically valued by a third party, who usually is a licensed or certified professional. This appraisal is important because the appraisal’s value will affect not only the tax payments on the property but also its potential selling price.

If you have questions about your real estate’s appraisal, visit the Austin homes of the Carvajal Group at 512-419-7770.

Tags: Austin Real Estate · Austin Real Estate Agent