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re: Realtors or Those Who Have Recently Purchased a Home
Posted on 9/19/14 at 9:16 pm to LuckySo-n-So
Posted on 9/19/14 at 9:16 pm to LuckySo-n-So
1. Appraised value is appraised as it sits. They don't over value assuming repairs will be made.
2. You need to know comparable sales in the area that are similar (age,size, bed/bath) to the property you're looking at. Don't trust Zillow numbers.
2. You need to know comparable sales in the area that are similar (age,size, bed/bath) to the property you're looking at. Don't trust Zillow numbers.
1
Posted on 9/20/14 at 8:16 am to rmcelh1
quote:
1. Appraised value is appraised as it sits. They don't over value assuming repairs will be made.
This is the way I understood it. They may say "this is listed xx amount below comps in the area because of updating and deferred maintenance" but the appraised value is based on comps and the condition is taken into consideration already.
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