Appraised Value by sheriiff

[Uri Katriel]

Hello, I'm very interested in buying foreclosed houses. I came across some intriguing offers and I'm curious about how the appraised value is determined and how accurate it is. For example, if I find a house listed at $60,000 with an appraised value of $120,000, how far off is this value from the actual worth? Is the appraised value more conservative or does it lean towards the higher end? I would greatly appreciate your response.