Quote:
Originally Posted by Tnlady
I guess I should have stated in my first message that we have someone interested in purchasing our home. That is why we don't plan to use a realtor. But we would like an appraisal so we could ask a 'fair' price for our sake and the buyer's sake.
We do appreciate all of your comments!
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A fair price is what the market will bear. This is why it is important to look at similar homes that recently sold in/near your neighborhood. Use these recent sales to negotiate with your buyer so that BOTH of you feel it is a good deal. An appraiser or realtor will find comparables to determine the home's present value. Just as I have suggested. It is quite easy to do yourself.
If your buyer is getting a mortgage, the bank will determine the value. If this is the case, getting your own appraisal is a waste of money.
The buyer may want a home and termite inspection. If the buyer is paying cash, you will need the help of a title company or real estate attorney to do a title search, transfer of deed and recording. These are the professionals YOU MUST HIRE. If buyer is getting a mortgage, the bank will take care of all this. No cost to you. The buyer will be charged by the bank .