Business profile for Process Solutions in Durango, Colorado. Infofree.com offers unlimited sales leads, mailing lists, email lists.
An appraisal is an unbiased professional opinion of a home's value. Appraisals are almost always used in purchase and sale transactions and commonly used in refinance transactions. In a purchase and sale transaction, an appraisal is used to determine whether the home's contract price is appropriate given the home's condition, location, and features.
An appraisal is not telling you what the house is worth, only what the market would bring by comparing it to other houses that are comparable to it. Therefore, there is no way they brought in a value of $171K unless they had something to compare it to.