Appraisal Values?

Question

Looking at a house but have been unable to get an appraisal value from the realtor. Where can I look on my own? Not tax appraisal.

Looking at a house, but can't get an appraisal value for it from the realtor for some reason. I live in a very rural area so the websites don't have my area in their database. Other sources? Not tax value.

Answer 1

Zillow.com is the worst product out there!!! I own 6 properties and it didn't come within 20% of the actual value of any one of them - it rated 4 higher than they were worth and the other 2 lower. It's ridiculous. I don't have familiarity with the other one, so I won't weigh in on that.

That being said:

Unless they're licensed as an appraiser, a Realtor should never give you an appraisal value on a property. We are authorized to give our professional opinion of a property, and although that's using the same information as an appraiser in a lot of cases, it's not an appraisal.

You should consider contracting for an appraisal from a licensed appraiser if you're really interested in the property, but remember, you may have to pay for another appraisal later in the game. The lender is going to require an appraisal in almost all cases, and if they don't work with the person you already contracted with, you're buying another one.

Another thing is this - your purchase contract should have a provision in it stating to the effect of "if the contracted purchase price of the property exceeds that as rendered from a licensed appraiser hired by (lender, you), then the buyer has the right to terminate (or renegotiate) the contract." Please understand that these are words off the top of my head, and are not to be construed as legal language for a contract, but you get the picture.

I'd say, put it under contract and worry about the appraised value later, so long as you have the above protection in the purchase agreement.

Answer 2

Zillow.com is a taxed assessed value, and therefore often comes up with an inaccurate value. But RealestateABC.com is one that I often look to for values before I ask for comp checks with the appraiser we use.

If you are interested, send me an email, and I'll pre-approve you for the purchase of the home. I can get a comp check from a lot of appraisers in a lot of different areas, to give you an idea of what the home will be valued at.

[e-mail]

Or check out our website: http://aapexfund.com/

Answer 3

If your looking to buy a house, unless you have a buyers agency agreement with the real estate agent, legally they can't comment on the price. If you feel comfortable with this realtor, then you can enter into a buyer agency agreement with them, and they will be able to give you an opinion on the asking price for the house you are looking at.

Answer 4

Try zillow.com & realestateabc.com

It is computer generated but can give a general idea of prices sold in your neighborhood. Your house is worth your neighbors price + or - for difference.