Quote:
Originally Posted by RoseyRed
Bank appraisal will give the value of the house in the current market and will also give one the ability to reject a buyers offer if it is not up to market value.
|
If you’re just going to reject offers until you get the money you need, why spend the money on bank appraisal?
However in todays market there are hundreds of preowned or new homes for sale, exactly the same. Today is the largest preowned inventory we have experienced in TV.
Owners that need to sell are considering $50,000-$100,000 less than asking. Yes that’s true, because we have made those offers with little pushback.
One of our village had 9 homes for sale all same model, all within $500,000 range. The 3 homes that finally sold took $75-$95,000 less than the asking price. The rest of the homes are still on the market after 11 months.
There is a big difference on want to sell, need to sell, and desperate to sell. That bank appraiser isn’t going to give you piece of mind unless he’s buying the house that he appraised the dollar amount for.
It’s a huge gamble for some to continue to reject offers because the bank appraiser said your house was this much money. Unless of course they have a half $1 million in the bank and then it’s not a big deal.