Appraisal
A professional appraisal is an opinion of value based on the property and market data. It is not itself an agreement to buy the house.
Memphis Home Value & Cash Offer Comparison
Home Appraisal vs. Cash Offer in Memphis
An appraisal, an agent's market analysis and a cash offer answer different questions. If your goal is to sell, it helps to understand the difference between an estimated value and an actual purchase proposal.
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An agent or online estimate may help indicate possible market value, but the final result depends on condition, marketing and an actual buyer.
Cash Offer
A cash offer is a proposed purchase price and set of terms from a specific buyer. You can compare that offer with your other selling options.
Gross Value Is Not the Same as Net Proceeds
A homeowner comparing options should consider what remains after repairs, commissions or fees, concessions, holding costs, taxes, liens and other transaction-specific expenses—not only the largest headline number.
A direct cash offer may be lower than a fully renovated retail value because the buyer is taking on repair, resale and market risk. The tradeoff can be less preparation and a simpler transaction.
Frequently Asked Questions
Do I need an appraisal before you make an offer?
Not necessarily. We can evaluate the property using the information and market data available to us.
Is your offer the same as appraised value?
No. An appraisal is an opinion of value; our offer is the amount and terms under which we are proposing to purchase the property.
Could listing produce a higher price?
Yes. A retail listing can sometimes produce a higher gross price, especially for a property in good condition. It may also involve more preparation, time and selling expenses.
Can I compare your offer before deciding?
Yes. You can use the offer as one data point when deciding whether to repair, list or sell directly.
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