what is the different between valuation price and guide price or negotiable price.
Posted by kim yee pan on Feb 9, 2010 in General Questions | 579 Views
Latest Answers by Real Estate Professionals (1 Answers)
Answer Posted on Feb 9, 2010
Valuation price is what a bank or other property appraiser says a property is worth. Different banks/appraisers will frequently have different valuation prices for the same property, since their formulas for determining value may differ and human judgement also lends some variability.
A guide price is simply intended to be a general starting point for negotiation, often just a general approximation of the price at which similar property at a given location is selling. Negotiable price might be simply a guide price, but is more likely to be closer to the actual price that the seller is demanding, subject to negotiation. How much negotiation that the seller is willing to undertake is dependent upon the seller.
A guide price is simply intended to be a general starting point for negotiation, often just a general approximation of the price at which similar property at a given location is selling. Negotiable price might be simply a guide price, but is more likely to be closer to the actual price that the seller is demanding, subject to negotiation. How much negotiation that the seller is willing to undertake is dependent upon the seller.
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