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But yeah, the buyer will do one anyway and a month from now there could be other examples out there and it would be redone anyway, so there's really no point. And you can do some math on it when it comes to taxes/etc. paid on that mortgage that you won't get back when you sell, versus differences in price, to tell you what makes sense and how long you can wait and still make it worth it, and when you should drop the price to sell. |
Appraisals are one of the biggest scams in the Real Estate business. I've bought and sold at least 40-50 properties in my lifetime. The appraiser always wants to know what the contract or sale price is and the appraisal comes in at that amount or a little over. EVERY TIME.
If you're getting an appraisal on your own without a contract or established sales price then the appraiser will base the price on comparable properties in the area. Price per sq/ft is what generates the price. You can get that figure on your own. |
THE SLUM LORD SPEAKS!
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Went through the same thing when we were thinking about selling our last home. The comps they were bringing me were close in square footage etc, but none had the updates like i had done to mine. First realtor suggested around 180k....uhhh no. Second was hovering around 190-195k. We were thinking well over 200k. In fairness I still had quite a bit of work to do to the place but i couldn't help but wonder if they were more concerned with a quick, easy sale than getting us top dollar. We ultimately pushed for 205k and sold it in 3 days. Still feel like we should have pushed for more since we didn't have another place in mind yet and not in a hurry to sell, but dealing with showings gets old pretty quick. And in the end we ended up in a far better home so I'm at peace with it.
Bottom line is it's YOUR house and the realtor is working for YOU and if you don't like what they're telling you you can keep looking around. Just make sure you're being realistic in your expectations. |
If you are in a market with Offerpad, Opendoor or Zillow Offers request free offers. Easy. If you like the offer pick your closing date and skip the bullshit hassle of listing your house.
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Appraisals are the PFF ranking of your home.
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Doesn't matter. Buyers bank will do the appraisal and that's Bible.
We just sold out home and got ****ed on that. Like I mean they just made shit up and used houses not even our size as comparables. Nothing we could do except ask the buyers to pay out of pocket for the difference the bank wouldn't loan. Wasn't worth it told them to pay the closing cost then and sold it. Price it for what the market is at. Sent from my Pixel 3a using Tapatalk |
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The above advice to "Just make sure you're being realistic in your expectations" is the best advice of all. |
I furnish pictures and have a friend do what's called a "drive by". He drives by on Google, sees several year's views, and looks up comps based on school district, city and past sales of same condition/ sized homes.
I squeeze a C note into his palm for the info. I always listed at 8-10% over appraisal. Realtor's do have a nasty habit of pricing low when in their the house is a dog. Smallest house in sub division, in a poor quality school district near a good one, or any of the other hot buttons they sell around. run down neighborhood, main street, no sidewalks..... Caldwell Banker used to have all branch agents tour every home, listed the previous week, and suggested selling prices. The broker actually set the price that was recommended to the seller. |
Ask what you want, accept what you want. Offers you accept define value not some realtor skank looking for the listing commission
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If you have made improvements to your home that might affect it's value, it may be worth it.
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And yes, there are some that can be turn-offs. You never want to personalize your home too much unless you plan on dying in it. |
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