can you sell your house for more than it appraises for?

Answer 1

Yes, you and your buyer can agree to any sale price in the universe. If your buyer needs a mortgage, the appraisal will be a tool that the bank will use to determine the buyer's loan amount. The bank will lend up to the appraised value. The buyer must pay the difference, or will try to renegotiate with you.

Answer 2

of course you can! you can sell your house for any amount that you and the buyer agree upon on your sales contract. it happens all the time in a seller's market: buyer brokers line up with offers of their clients, to present to one seller, for one house, for example. (single family, detached houses are the number 1 seller in the usa, always, always, always).

1. your listing broker/agent would already have shown you the "comps" for your location, your type of house, and all that sold and closed that is like yours within at least the past 6 months. (in this buyer's market, that time period should be extended to 12 months). "comps," a/k/a comparables, eventually are given to the bank's appraiser if your buyer is getting a mortgage, therefore:

2. you price to SELL your property and then you have LOADS of offers flowing into you, perhaps 3 or 4, all in one sitting.

3. if you do not price your house to sell, it will sit around, getting very, very stale on the market--so stale, in fact that there is no agent that works your hood that will show it--even when you lower your price. if you PRICE TO SELL at first, not later, then you will get a sale, and it JUST MIGHT BE FOR HIGHER THAN BOTH YOUR APPRAISAL AS WELL AS THE ASKING PRICE!

4. all right. you got an appraisal somehow. the question is: WHEN was the appraisal done? if more than 12 months ago, in the seller's market that ended in early 2005, i do not think your buyer can buy for greater than the appraised value, because:

5. if your buyer were an all cash buyer, sure, no problem. however, if your buyer gets a mortgage, again, the "comps" that we Realtors (r) pull out of the MLS are those that the appraiser uses anyhow, but the appraiser works for the LENDER, not for you. the appraiser does not care one way or another about you. the appraiser cares that the appraised value of your house is what is equal to the mortgage amount. therefore:

6. sure, get every dime you can, but know that if your buyer comes in with a low down payment, or has a bad credit rating, he may not be able to consummate the sale per the contract. or, if your appraisal is old and was done in a seller's market, it just won't jive with what houses are selling at today, IF they sell at all.

7. if you hired a good, caring, experienced, real estate broker, a Realtor (r), actualy, that lives up to the NAR code of ethics and knows your neighborhood or at least knows how to run comps, then she will be able to advise you whether or not it may work out for you.

after you read this, if you have a specific question, feel free to write me at my email address on my profile here.

good luck!

Answer 3

Legally you are able to sell the valuables for greater suitable than the appraisal, the huge project is finding somebody who's prepared to pay greater suitable than the appraised fee for the domicile. the guy who suggested that there is a regulation against this is the two misinformed or he's joking. in my opinion i'm no longer able to pay greater suitable than the appraised fee. I even have got here upon lender's appraisers to be very poorly skilled and lacking in adventure. i desire to recommend which you hire your man or woman appraiser. tell the appraiser which you're questioning of merchandising your place and desire an precise determination of what the genuine undemanding marketplace fee is so as which you do no longer overprice your place or underprice your place. The appraiser that I hire is a Member of The Appraisal Institute. The Appraisal Institute is a countrywide business enterprise that has very severe standards for training and adventure for appraisers to be individuals of The Appraisal Institute or MAI because of the fact the designation is time-commemorated. For an exceedingly small investment often below $500 you will get an appraisal which would be genuine undemanding marketplace fee and which would be a rock sturdy appraised fee which you would be able to place self belief in. I notice which you're a militia spouse. with any success the appraiser provides you with a chit because of the fact of his admire and thank you on your provider and your husbands provider.

Answer 4

An appraisal is only a "best guess" estimate by the appraiser. You can sell your house for anything a potential buyer is willing to pay. If he wants to pay more than the appraisal, that is up to him & good for you.

Answer 5

That completely depends on the buyer... if someone is willing to pay it then yes. In most cases however in an investment as large as a house, no one is going to pay more than it's worth and usually houses sell for slightly under appraisal value.

Answer 6

ABSOLUTELY! Appraisals are nothing more than an estimate.

The only true value of your house is the amount someone else is willing to pay for it. It happens all the time.

Answer 7

No u can't sell your house for more then it's appraises for it's against the law when i was buying my house they appraise it for more then it was worth and the seller end up having to eat the 2 thousand dollars

Answer 8

depends on your state laws..
and on the bank whom may mortgage it...

for example if a party wants to pay 10% more then the Appraisal, the bank will requires the buyer to bring up the different..

plus on APppraisals there are different types, buyer AP., seller AP. , bank ap., tax ap. and as built builders ap.. and they may all vary... i personally like the builders ap. for it deducts the repairs and is an as built type.. you did not refer to what kind of AP. you are re furring to.

check you state law on seller over selling real property....
for example some one leave a high prices area like Calif. goes to Wichita ks. where property is cheap, a buyer can not charge Calif. real property prices... it is according to the local/regional market..some states the buyer can come back and sue the buyer for over pricing for the neighborhood...

plus how old is the ap.,, have a current one some states it is 3 months, some 6 months and some up to a year.. have a realitor do a comp. for you... and keep it for your records...

Answer 9

If you can find a buyer willing to pay that, yes.

The buyer's lender may only offer a mortgage up to the appraised value though.

Answer 10

Yes you can.But the buyer can only mortgage the max appraisal amount.