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newnormal posted 5/18/2013 16:50 PM

Any suggestions for an inexpensive way to have a house appraisal? We have a refinance appraisal a year ago that is far higher than zillow. All we have to do is agree on the value, we dont need formal papers. He thinks its worth far more than what I think it would actually sell for. Thanks for your ideas.

Zamas posted 5/18/2013 16:53 PM

Could you have a realtor come out and make a suggestion for a list price?? They generally have a good idea about what they will sell for and will have examples of what other houses in the area have sold for.

Nature_Girl posted 5/18/2013 16:58 PM

A realtor can give you a CMA-Current Market Analysis, often for free or a small sum. That might be sufficient for your needs. A full-on appraisal will cost you money. I had a CMA done on our house by a realtor we both knew & trusted. STBX rejected it and came back at me with a print-out from Zillow that was tens of thousands higher, which I rejected. So we had to have a formal appraisal done for many hundreds of dollars. End result was the same number as the CMA I submitted. Oh, and we're now many hundreds of dollars poorer.

Take2 posted 5/18/2013 17:14 PM

I had realtors in, asked for a Fair Market value adjusted for a quick sale. Had documentation for it and lots of comparatives from the local area - this is the route I would try.

In my case WH still objected to the price...and Zillows number was way off!! I felt fairly confident with the realtor's estimate though...

He valued the home nearly double what the realtor did. His atty. said they would bring in an appraiser and pay for it. (The atty.'s guy, but if I didn't agree with it, I could then hire my own.)

I suspect that by that time his atty. had figured out he was full of shit - he didn't even ask for me to pay for 1/2). He got stuck with the cost of two other appraisals, because he didn't like my numbers - and in the end he'd have been better off with my numbers, moron!

eta: WH was over 150,000 above what the realtor and then the apprasier both came in at.

[This message edited by Take2 at 8:02 PM, May 18th (Saturday)]

Phoenix1 posted 5/18/2013 18:31 PM

I fully expect a fight on this one as I know he has an inflated opinion of the value. Because of that, I am taking a preemptive strike - had furnace serviced/checked for life remaining (it needs to be replaced before next winter) and have that on paper, I had a full house inspection done and walked through it with him to point out every problem I knew existed, and all that info/reports will be provided to an appraiser to get an accurate FMV. I called around to get the best price on an appraiser as I know POS doesn't have the money to pay for his own so he will pretty much have to live with the one I get. Yes, this costs money, but to me, knowing I am going to get an argument about it, I would prefer paying the money and having all my ducks in a row before the argument begins...

million pieces posted 5/18/2013 18:50 PM

I fully expect a fight on this one as I know he has an inflated opinion of the value. Because of that, I am taking a preemptive strike - had furnace serviced/checked for life remaining (it needs to be replaced before next winter) and have that on paper, I had a full house inspection done and walked through it with him to point out every problem I knew existed, and all that info/reports will be provided to an appraiser to get an accurate FMV. I called around to get the best price on an appraiser as I know POS doesn't have the money to pay for his own so he will pretty much have to live with the one I get. Yes, this costs money, but to me, knowing I am going to get an argument about it, I would prefer paying the money and having all my ducks in a row before the argument begins...

This is exactly what I did. I figured the $350 was well worth 1/2 of the price difference he was trying to pull.

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