Are comps available to find without hiring an appraiser?

Question

I found a house that I'm interested in buying and I would like to find out what similar houses in my neighborhood have sold for recently. Is there a website or some other way I could find out this information without hiring an appraiser? I haven't made an offer and would want to hire an appraiser everytime I find I house I'm interested in. Any information would be greatly appreciated! Thank you!

The seller mentioned that they've had an appraisal done already b/c they had an offer but it fell through. I wanted to know if I should trust what they say is the value of the house or find out on my own. I am plannig to get financing through a bank. I just want to know if what the seller is asking for is reasonable.

Answer 1

Call and speak with a Realtor in your area ---

They do not charge for answering questions, such as what you are asking. . .and they could direct you to a web site (if one is available) to give you the 'comps' info you are seeking.

How do you intend to purchase the house you are interested in, without some professional assistance? (e.g. Realtor) Especially if you plan to finance this purchase????

Hiring an appraiser is NOT something you want/need to do when considering a home purchase - that is something that the lending institution does, and includes in the closing costs. . .

I think (from the little info that you have supplied) you need some serious professional help/guidance from here. . . so, call a Realtor.

Answer 2

If you or the other side have an agent, they'll get them for you for free. If not, you can look for company-specific websites that will have their own listings online. It's a bit more work, but if you look at the two or three largest brokerages in your area (say Prudential) you'll find much of what you need.

If you haven't done a lot of buying/selling, I'd take the following into considerations (in order of importance):

-- average comp value
-- major repairs not done
-- difference in bedrooms, then bathrooms
-- square footage
-- acreage
-- general curb appeal

After that, it's features. The rest kind of stack up equally, so you just want the list, to see how long it is (hot tub, walk out basement, finshed basement, deck, etc.)

As time goes on, you can get really good at predicting this with out a very involved process.

Last thought, if you're financing the home, the mortgage company will require an appraisal. That protects them above everything else, so you may end up spending the $400 each time you close on a home. If you're still not comfortable when you make your offer, just make it contingent on the appraisal coming in at or above your offer. (Do it anyway, but know that's what you're going to do.) That is a standard option to be checked in most real estate purchase contracts.

Good luck

Answer 3

since the appraiser made his opinion he/she is bound to that opinion to the market. Most Mortgage companies will want this information when they get the appraisal. If the appraisal is already done than ask for a copy of it. Usually comes in pdf form. Go through the appraisal and there are comps already in the report. Should be in approiximate area the home is situation in. You can also take the seller's appraisal to the bank and see if this ok. I would suggest if your worried about it than pay for the appraisal yourself. Only cost average of 350 cheap compared to what your going to borrow. Than get a home inspection. Than talk to a mortgage broker and bank retail find which interest rate is lower. LOCK in and ready to rock n roll. Good luck!

Answer 4

Appraisers work off of sold property reported in MLS. If you're going to get a loan, chances are that you're going to end up paying for an appraiser. But learning how to order an appraisal - what to say and what not to say - is an art.

There's nothing magic about what appraisers do. But never trust someone who says they have an appraisal for $X. There are too many ways to manipulate an appraisal (high or low), and all too many appraisers are willing to go along. Get your own appraisal. It'll cost you some money, but it can save you more.

Answer 5

get a realtor. they will know what the market is like, and what is comparable in price to the home you're interested in. you NEED the experience & expertise of a realtor.

do not attempt to undertake this on your own, or hire an appraiser. a realtor can do a market analysis for you, which is (typically free), and will let you know if the asking price is in line for the home.

Answer 6

zillow is not that great. i just looked at our house and my father-in-law's house and both are way low true value!

Answer 7

try domania.com

Answer 8

www.zillow.com