English Deutsch Français Italiano Español Português 繁體中文 Bahasa Indonesia Tiếng Việt ภาษาไทย
All categories

If you have an appraisal done on a house, and you offer the seller a certain amount say like 150,000 dollars but the house is only appraised for 125,000 can you make sure that you get the house for the lower price, because an appraisal costs money and you dont wanna just spend money for an appraisal unless you can be sure you will get the house for the appraisal amount. How do you make sure you will get the house for the price of the appraisal at least?

2007-10-03 18:53:41 · 3 answers · asked by . 3 in Business & Finance Renting & Real Estate

3 answers

In order to do what you suggest, you need to write that into the purchase contract as a contingency. However, that's a pretty odd request, and as a seller, I wouldn't agree to it.

Why would you offer $150k on a house if it wasn't worth that to you? What difference does it make if some appraiser says it's worth less after the fact?

2007-10-03 18:58:44 · answer #1 · answered by Uncle Pennybags 7 · 0 0

You don't make an offer until you have the appraisal first. If there is a real estate agent involved, ask them when the last appraisal was done on the home, there maybe one already on file. If not, order one. They are about $150-$325 depending on the area. It's cheaper than going through the hastle with earnest money etc. Your real estate agent should inform you of the "fair market value." Should be in a "flip" situation you never offer more than the list price unless you know there is another offer on the table...kind of like bidding at an auction, buy low sell high but don't ever pay for something more than appraised value there's no guarantee you'll get it back out of the property.

2007-10-04 02:33:16 · answer #2 · answered by Seraphity 2 · 0 0

Hi,

Why do you want to buy a house for more than its worth ?
If the vendor wont accept the appraisal value, just
walk away .

Rgds................................

2007-10-04 02:01:00 · answer #3 · answered by ? 5 · 0 0

fedest.com, questions and answers