I am interested in knowing what my house is worth, but am not looking to sell right now.
Is there a different price for this than would be for an appraisal to sell?
2007-03-23 13:15:55 · 3 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Well you can sell it for whatever you want. The appraisal will be given through the bank. they will send someone out to look it over. That is the amount YOU can borrow against it, like if you wanted to go buy another home, and rent that one out.
Did that make since?
2007-03-23 13:20:27 · answer #1 · answered by Anonymous · 0⤊ 0⤋
For a non-transaction appraisal, you might consider a different level of detail to save you some money. There are many different types of appraisal. Most residential appraisals are "full", or summary report, because most appraisals are used for lending transactions. These are $300 and up based on your type of property. But there are other kinds, too. The "drive by"; $200-$300; or the "desktop"; $100-$200. The pattern is the higher the cost, the more analysis is involved, the more accuracy in the the value, and therefore the higher the fee. So ask yourself, how accurate do you need this to be for a non-transaction appraisal?
There are also many websites that offer a value estimate for you property, but I haven't found a free one yet that is within 15% of my own house value. Most are just lead generators for Realtors.
2007-03-26 17:55:57 · answer #2 · answered by Appraiser Guy 2 · 0⤊ 0⤋
The price is usually the same ($300-450 depending on your area--more for unusual homes or 1 mil+ homes). The appraiser has to do the same amount of work in a selling/refi/or curiosity situation.
2007-03-25 13:32:32 · answer #3 · answered by Scott B 3 · 0⤊ 0⤋