When you buy a house, one of the first things that need to happen is to get an appraisal. The DiMora Team are real estate experts in the Novi and Northville neighborhoods and we know that appraisals provide an objective opinion of value, but it’s not an exact science so appraisals may differ. The appraised value doesn’t take in to account any special considerations, like the need to sell your home quickly. They are usually based on the market value in your neighborhood and what the property could probably be sold for. Other types of value include insurance value, replacement value, and assessed value for property tax purposes. Check out below to see what sold in Stonehenge in February 2017:
23653 Stonehenge Blvd., Novi: 2 bedrooms, 1 bathroom, 970 sq. feet, 1 car garage, Sold Price: $98,400
Lenders usually use either the appraised value or the sale price, whichever is less, to determine the amount of the mortgage they will offer. For more information on Stonehenge, or similar Northville or Novi neighborhoods such as Crosswinds West, Lakewoode Parkhomes and Highland Lakes, contact The DiMora Team today at 248-505-7728 or firstname.lastname@example.org.