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 schotzee
Joined: 14 Oct 2008
Posts: 1
1.33 Dollars($)
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 Posted: Tue Oct 14, 2008 8:25 am Post subject: should i pay full appraised value of a home |
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| The home i want to buy is appraised at $147,000. The owner is asking for $142,000. Is this a fair price? I am a 1st time homebuyer. |
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apexoffice
Moderator
Joined: 09 Jul 2008
Posts: 104
Location: Atlanta, GA
35.70 Dollars($)
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| Posted: Tue Oct 14, 2008 10:11 am Post subject: |
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I would question why the seller is asking for less than it is worth. If it was really worth more, then it would be in the sellers best interest to get at least that much. Perhaps it may be an old appraisal and the market has declined since then. I would look at other properties that are listed in the neighborhood and try to make an informed decision on what YOU think it is worth. If you think it is good deal in comparison to other options on the market then you should be fine.
If you really want to know, maybe hire your own appraiser to help you determine a fair offer and see if there is a difference in opinion. It may be worth a few hundred dollars to keep from making a few thousand dollar mistake.
_________________
Benjamin Smith
Atlanta Area Appraiser
Apex Appraisals & Consulting, LLC
www.appraisalapex.com |
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TERRI
Guest
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| Posted: Wed Oct 15, 2008 8:56 am Post subject: APPRAISED VALUE VS SELLING PRICE |
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| ACTUALLY, THE SELLER TOLD ME THE APPRAISAL WAS $165,000 AND BEFORE I KNEW THIS FOR SURE, I TALKED HIM DOWN TO $142,000 AND HE FINALLY ACCEPTED. I THEN HAD THE PROPERTY APPRAISED MYSELF AND THE APPRAISED VALUE WAS $147,000. THANKS FOR YOUR ANSWER. THAT ANSWERED A QUESTION THAT HAS BEEN ON MY MIND SINCE I FOUND THE HOUSE. |
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chodes
Guest
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| Posted: Sun Jul 05, 2009 9:52 am Post subject: home appraisal |
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| should you pay full appraisal value for a home with this ecomany we are in |
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smithsussane
Joined: 18 Sep 2008
Posts: 3738
Location: Alaska
561.45 Dollars($)
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| Posted: Sun Jul 05, 2009 8:07 pm Post subject: |
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Hi chodes!
Welcome to forums!
Though the real estate market is going through a crisis right now, you'll have to pay the appraised value of the property when you try to buy it.
Sussane |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 7448
Location: bloomfield, ct
70.12 Dollars($)
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| Posted: Tue Jul 07, 2009 8:36 am Post subject: |
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chodes, there's no reason that you would be required to pay full appraised value of a home. if you are interested in a home and wish to bid on it, then make whatever you consider to be a reasonable bid. if it's accepted and the appraised value ends up being higher, then you've made a good deal. if it's lower, then you will have an opportunity to fix the situation.
paying appraised value just for the sake of paying appraised value isn't sensible.
_________________
George M. Akerley
Loan Consultant
860-221-5044 |
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