Current Market Value Appraisal
The market value is the amount potential buyers are willing to pay for property. A seller can set an asking price, but that amount may not necessarily be in agreement with what buyers are willing to pay. The difference between an asking price and the market value is largely out of the seller’s control. For example, one person can view a property, determine it is exactly what they are looking for and well-worth the asking price, whereas another person could look at the same property and feel the asking price is too high.