Vancouver Condo Real Estate Video Blog #385 - August 17, 2009
Appraised, Assessed and Market Value Are Not the Same
Ian Watt Video blogs about how the Appraised, Assessed and Market Values are Not the Same and you should be aware of the differences. If you want to voice your opinion or if you don't care for Ian's comments please email your feedback to ianwatt@ianwatt.ca and visit http://www.ianwatt.ca/RealEstateVideos for all the Ian Watt Real Estate Video Blogs.
Ian Watt : Hi Good Afternoon. Its Ian Watt in Downtown, Vancouver. There are (3) three different values you should keep in mind when you're buying a Vancouver condo. There is the appraised value, there is the assessed value and there's the market value. These 3 different values have no co-relation whatsoever. The appraised value is for your bank's, your bank's interest, not yours. The assessed value is for the city's interest, not yours. So only the market value that really matters. The price somebody is willing to pay for that Vancouver condo. My name's Ian Watt. If you wanna discuss the 3 different values, you can always email me at ianwatt@ianwatt.ca . Thank you very much and have a great day!