Establishing FMV
Would using comps for your area be a good way to establish FMV on your own property or is an appraisal needed. I see ads that list the asking price and the FMV as well do most folks use an appraisal for that amount?
Thanks
You can use either an appraisal or comps IMO, appraisals are supposed to go based on the condition of your home as compared to the condition/amentities of the other homes like yours in your area that have sold or are on the market, so both should give you about the same number. However, comps can be pulled free of charge from your realtor whereas an appraisal can run you 300-350.