should i pay full appraised value of a home

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.

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.

should you pay full appraisal value for a home with this ecomany we are in

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

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.