Lenders Assessments are done when they are planning on perhaps selling their portfolio to show an increase or decrease of value. This is normally a desktop appraisal (if you will). More so for shareholders etc.
And a market value appraisal which is what many get prior to purchasing a home is used for loan purposes.
Have a great day;
CEO & SR Credit & Mortgage Consultant of
Ex-Mortgage Broker of more than 10 years
The Lender's appraisal is what their appraiser determines market value to be. They come to this value by comparing similar homes in the same area that have the same characteristics. Realtors basically do the same thing when running Comps.
True Market value is whatever a Buyer is willing to pay for a property. This can sometimes be more than the lenders appraised value, but sometimes less, depending on the market.
Are you trying to determine what YOUR home is worth in Logan? Or are you looking to BUY a home in Logan?
Equity Real Estate
(801) 455-8753 cell