Reconciled Market Value in Real Estate

Reconciled market value in real estate is one number that you're not going to want to forget. Find out about reconciled market value in real estate with help from a real estate professional in this free video clip.

Part of the Video Series: Real Estate Tips

Video Transcript

Hi, Rick Rapp here, broker owner of Travers Miran Realty and I'm here today to explain to you reconcilable value in real estate. Reconciled market value, what is it, what does it even mean? If you're researching reconciled market value, there's a strong possibility that you're probably in preforeclosure. Now don't be embarrassed most of the country is and it's important that you're finding out what reconciled value truly means to you. Reconciled value is not a number that transfers from home to home or is a scientific evaluation. Reconciled value takes in factors according to you as a homeowner as well as the home involved. What reconciled value actually means is what the bank holding the mortgage deems the home is worth. Now they are deeming what that home is worth to them as the owner of that mortgage. If you have liens on the property, your reconciled value will be lower than a person without liens. If you haven't paid your mortgage in six months, again, it's much lower. The bank is going to take into consideration all fees on their side. At the end of their fees and their out of pocket expenses, they will come to what they consider your reconciled value. This number has nothing to do with fair market value, it has nothing to do with what a purchaser would pay for your home, it is simply what the bank deems your home is worth to them. Reconciled value is not a number that you can fight. It's not a number that you can disagree with. It's not a number that you have control over. It's simply a number that the bank is going to state to you that your home is worth to them. Thanks for watching. That should help you better understand reconciled market value in real estate.

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