Home Appraisal And Home Valuation

Real Estate Agent with The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803

Real Estate Tip of The Day:

Raise Your Hand If You Know The Difference Between A Home Valuation And A Home Appraisal ~


If you are financing your home with a mortgage,  you will want to be sure to negotiate a home appraisal contingency into the sales contract. This is a process through which a real estate appraiser determines the fair market value of a home. It can assure you and your lender that the price you have agreed to pay for a home is fair.

The appraisal contingency protects you the buyer because if the appraisal comes in too low to justify the agreed-upon purchase price, then you can cancel the deal without penalty or renegotiate the terms of the deal with the seller.



A home valuation is the market value of a property determined by the buyer of a property, based on what they think the price of a property should be, and most importantly, what they are willing to pay for it. So it's consumer-driven and is usually the agreed-upon price that a buyer pays and the seller accepts. 


And There You Have It!

Lawrence & Sheila Agranoff

Cell: 631-805-4400

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                                                    Sheila & Larry Agranoff

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Lawrence "Larry" & Sheila Agranoff are more than just Real Estate Agents. To attain the designation of REALTORS®, we have proven to be more knowledgeable & experienced, above and beyond the average requirements. Being part of the network referred to as REALTORS®, you can be sure we will cater to your Real Estate needs with superior professional practices.
If your home is listed with another broker, this is not a solicitation of property. This does not suggest broker has property currently available. Reproduction of text/images contained herein without the express written consent of the authors is strictly prohibited. Sale May Be Subject To Term & Conditions of An Offering Plan. Disclaimer: While information is believed to be accurate it's represented subject to errors, omissions, changes or reliance on information & must be verified by prospective consumer. The authors disclaim liability for any damages/losses, direct or indirect resulting from anything contained herein or the accuracy of comments or opinions of visitors.​©2008-2023.


Comments (13)

Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

That is a very good explanation of the differences between the two and that dog must be pretty smart since he is raising his hand, haha.

Jan 30, 2023 04:13 AM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Sheila and Larry - while I can raise my hand, "we" know many can be confused about the different terms that are used in real estate.  Additional information can be useful.  The right local representation is strongly recommended.  

Jan 30, 2023 04:14 AM
Leanne Smith
Dirt Road Real Estate - Golden Valley, AZ
Relocation to NW AZ with elbow room & more freedom

And both are opinions  which are subjective.  Hence with appraisals why two appraisals can be quite different even though both are following the same appraisal guidelines.

Jan 30, 2023 04:21 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Good morning, Sheila and Larry... good explanation. I often get called being asked for an appraisal and I have to remind people I can only provide a market analysis.

Jan 30, 2023 04:25 AM
Joe Jackson
Keller Williams Capital Partners Realty - Columbus, OH
Clintonville and Central Ohio Real Estate Expert

This is an excellent post with great information. Thanks for sharing it.

Have a super fantastic week!
Joe Jackson, Realtor-KWCP

Jan 30, 2023 05:14 AM
Roy Kelley
Retired - Gaithersburg, MD

This is good information to share with home buyers and home sellers.

Have a great day and an outstanding week.

Jan 30, 2023 05:23 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Great information.  Thanks for sharing and enjoy your week! 

Jan 30, 2023 05:43 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Larry and Sheila,

Really like the visual with the raised paw!! Your explanation of the difference of a Home Evaluation and Appraisal is spot on!

Jan 30, 2023 05:46 AM
Mark Don McInnes, Sandpoint-Idaho
Sandpoint Realty LLC - Sandpoint, ID
North Idaho Real Estate - 208-255.6227

'only what someone is willing to pay'  so many times ignored by a seller.  Constant reminders needed, especially coming out of 2021.  mdm

Jan 30, 2023 07:21 AM
Norma J. Elkins
Elite Realty Group - Morristown, TN
Realtor - Elkins Home Selling Team

Excellent information and the dog picture was perfect!  Thanks for sharing and have a fabulous day!

Jan 30, 2023 07:45 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Sheila and Larry and always interesting to learn from the two of you here in the Rain.  Thanks for your information!


Jan 30, 2023 08:52 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Hi Larry and Sheila- good explanation!  I'm sure that there are many sellers and buyers who were not aware of the difference. 

Jan 30, 2023 01:11 PM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Thank you all for your comments on our Home Appraisal and Home Valuation. We're aware that both buyers and sellers need information before gong through the process!

Feb 01, 2023 12:08 AM