• Search Homes
    • My Account
    • Contact

Murfreesboro, TN Homes for Sale by Benchmark Realty LLCMurfreesboro, TN Homes for Sale by Benchmark Realty LLC

Lane Wommack – 615-542-6261
Rebecca Wommack – 615-542-0660
Lora Rodgers – 615-772-5576
Don Richer – 615-456-9189
Delena Marie – 615-684-9505
Ruth Ocana – 615-593-4995
Mariah Tellez – 615-498-3710
  • Menu
  • Home
  • Search
    • Advanced Search
    • Interactive Map Search
    • Hot Property Updates
    • My Account
  • Communities
    • Hidden River Estates
    • Murfreesboro
    • Franklin
    • Nashville
    • Brentwood
    • Nolensville
  • Featured
  • Buy
    • Get Started
    • Mortgage Calculator
    • Buyer Tips & Tools
  • Sell
    • Whats My Home Worth
    • Marketing Your Home
    • Seller Tips & Tools
  • About
    • About Us
    • Client Reviews
  • Blog
  • Contact

Appraisals Explained

Appraisals are one of the most confusing aspects of buying or selling real estate for the consumer. When a buyer and seller agree on a sales price, it can be frustrating to hear that the appraisal came in with a value too low. It’s not enough for the principals to agree to the price, the appraisal is the lender’s way to ensure they are not loaning money over the actual market value of the property.

The appraised value is reached by a licensed professional who looks at the real estate market in which the target property is located. They start with the target property and then look for recent sales in the area of comparable properties. These comparable properties will be located within a short distance of the target home, normally within a 5 mile radius. They should also be of comparable size and often fall within the same housing development.

Once these homes are identified, the appraiser will adjust for the specific differences. For instance, does the target home have an upgraded kitchen or swimming pool? They add or subtract value based on such things as location, view, lot size, upgrades, additions, condition and many other factors. They can then arrive at a valuation for the target home.

Once the appraisal has been completed, the lender is notified of the value. At this point, the loan amount is either confirmed or declined. If the appraisal comes in too low, the principals can choose to make up the difference in sales price, lower the sales price or cancel the transaction.

Appraisals are not as complicated as they appear. By learning about recent sales in your area ahead of time, you can price your home appropriately up front; then the appraisal should come back as expected.

Posted in: Uncategorized

Post navigation

« Latest Kitchen Backsplash Trends
Home Improvements with High ROI »

Quick Search

Advanced Search Map Search

Featured Properties

4727 Peytonsville Rd E $7,500,000

4727 Peytonsville Rd E Franklin, Tennessee

5 Beds 8 Baths 8,883 Sq Ft 13.030 Acres

0 Old Hillsboro rd $6,499,000

0 Old Hillsboro rd Franklin, Tennessee

5 Beds 7 Baths 8,252 Sq Ft 10.769 Acres

1416 Chickering Rd $6,000,000

1416 Chickering Rd Nashville, Tennessee

5 Beds 8 Baths 5,750 Sq Ft 9.430 Acres

2618 Factory Rd $5,880,000

2618 Factory Rd Murfreesboro, Tennessee

Beds Baths Sq Ft 112.090 Acres

1004 Liberty Church Trl $4,999,999

1004 Liberty Church Trl Brentwood, Tennessee

7 Beds 11 Baths 10,668 Sq Ft 1.830 Acres

160 2nd Ave S 3401 $4,250,000

160 2nd Ave S 3401 Nashville, Tennessee

2 Beds 3 Baths 2,172 Sq Ft Acres

1517 Lone Oak Cir $4,195,000

1517 Lone Oak Cir Nashville, Tennessee

5 Beds 9 Baths 6,857 Sq Ft 0.710 Acres

160 2nd Ave S 3102 $3,999,999

160 2nd Ave S 3102 Nashville, Tennessee

2 Beds 3 Baths 2,384 Sq Ft Acres

1816 Franklin Hills Ln *Lot 2* $3,999,900

1816 Franklin Hills Ln *Lot 2* Franklin, Tennessee

4 Beds 6 Baths 7,907 Sq Ft 5.093 Acres

3914 Harding Pl $3,995,420

3914 Harding Pl Nashville, Tennessee

6 Beds 8 Baths 6,292 Sq Ft 0.500 Acres

4618 Belmont Park Ter $3,749,950

4618 Belmont Park Ter Nashville, Tennessee

6 Beds 6 Baths 6,119 Sq Ft 1.070 Acres

565 Grand Oaks Dr $2,999,900

565 Grand Oaks Dr Brentwood, Tennessee

5 Beds 7 Baths 8,165 Sq Ft 3.940 Acres

3304 Overlook Dr. $2,999,000

3304 Overlook Dr. Nashville, Tennessee

5 Beds 7 Baths 5,861 Sq Ft Acres

160 2nd Ave S 2007 $2,950,000

160 2nd Ave S 2007 Nashville, Tennessee

2 Beds 3 Baths 1,524 Sq Ft Acres

1411 Old Hickory Blvd $2,899,000

1411 Old Hickory Blvd Brentwood, Tennessee

5 Beds 7 Baths 7,416 Sq Ft 2.030 Acres

Talk To Team Wommack Now!

Have a question? Give us a call at 615-809-2323, or you can click on our logo for more options. Call or email and we will contact you right away.

Follow Us


615-809-2323 Office
615-542-6261 Lane
615-542-0660 Rebecca
lane@teamwommack.com
License# 00327349
rebeccawommackrealtor@gmail.com
License# 335407
Benchmark Realty, L.L.C.
630 W. Burton St.
Murfreesboro, TN 37130
Office License # 261865

Murfreesboro Real Estate

Did you know the hottest homes for sale in Murfreesboro often sell within days of being listed? Don't miss out! Set up your own custom property alert so you can be notified of the newest homes as they hit the market! Simply click the button below and choose the qualities that you want most in a home and save your search to start getting alerts today!

New Property Alerts

As local Murfreesboro Real Estate Agents we also have access to homes before they hit the market and can show you more homes and information that are only accessible in the MLS. If you would like to set up a time to go over your real estate needs, please free to contact us at your convenience. There is no obligation and or pressure... we hope to hear from you!

Featured Properties

4727 Peytonsville Rd E $7,500,000

4727 Peytonsville Rd E Franklin, Tennessee

5 Beds 8 Baths 8,883 Sq Ft 13.030 Acres

0 Old Hillsboro rd $6,499,000

0 Old Hillsboro rd Franklin, Tennessee

5 Beds 7 Baths 8,252 Sq Ft 10.769 Acres

1416 Chickering Rd $6,000,000

1416 Chickering Rd Nashville, Tennessee

5 Beds 8 Baths 5,750 Sq Ft 9.430 Acres

2618 Factory Rd $5,880,000

2618 Factory Rd Murfreesboro, Tennessee

Beds Baths Sq Ft 112.090 Acres

1004 Liberty Church Trl $4,999,999

1004 Liberty Church Trl Brentwood, Tennessee

7 Beds 11 Baths 10,668 Sq Ft 1.830 Acres

160 2nd Ave S 3401 $4,250,000

160 2nd Ave S 3401 Nashville, Tennessee

2 Beds 3 Baths 2,172 Sq Ft Acres

1517 Lone Oak Cir $4,195,000

1517 Lone Oak Cir Nashville, Tennessee

5 Beds 9 Baths 6,857 Sq Ft 0.710 Acres

160 2nd Ave S 3102 $3,999,999

160 2nd Ave S 3102 Nashville, Tennessee

2 Beds 3 Baths 2,384 Sq Ft Acres

1816 Franklin Hills Ln *Lot 2* $3,999,900

1816 Franklin Hills Ln *Lot 2* Franklin, Tennessee

4 Beds 6 Baths 7,907 Sq Ft 5.093 Acres

3914 Harding Pl $3,995,420

3914 Harding Pl Nashville, Tennessee

6 Beds 8 Baths 6,292 Sq Ft 0.500 Acres

4618 Belmont Park Ter $3,749,950

4618 Belmont Park Ter Nashville, Tennessee

6 Beds 6 Baths 6,119 Sq Ft 1.070 Acres

565 Grand Oaks Dr $2,999,900

565 Grand Oaks Dr Brentwood, Tennessee

5 Beds 7 Baths 8,165 Sq Ft 3.940 Acres

3304 Overlook Dr. $2,999,000

3304 Overlook Dr. Nashville, Tennessee

5 Beds 7 Baths 5,861 Sq Ft Acres

160 2nd Ave S 2007 $2,950,000

160 2nd Ave S 2007 Nashville, Tennessee

2 Beds 3 Baths 1,524 Sq Ft Acres

1411 Old Hickory Blvd $2,899,000

1411 Old Hickory Blvd Brentwood, Tennessee

5 Beds 7 Baths 7,416 Sq Ft 2.030 Acres

© 2023 · Benchmark Realty LLC. Team Womack · 615-542-6261 · Sitemap · IDX Sitemap | Terms of Service | Privacy Policy | Agent Center
Disclaimer - All Rights Reserved by Benchmark Realty LLC. Team Wommack
|

Log in ·