From: Cuse 
Newsgroups: alt.real-estate-agents misc.invest.real-estate alt.invest.real-estate
Subject: Re: Should I even be buying now? (Re: Is there anything wrong with
 this transaction?)
Date: Wed, 24 Sep 2003 08:07:38 GMT



Jeremy Thurber wrote:

>>I hardly
>>think a 700K on a 730K listing is an insulting low ball offer.
>>    
>>
>
>But you didn't offer 700k on a 730k listing....you offered 650K ...big
>difference between 30k and 80k.
>  
>
Would it make a difference if I were to tell you the current owner 
purchased this property in Jan 2003 for 605K? and now trying to sell it 
for 730K (no wait 830K).  Yes I know it is irrelevant how much they paid 
previously based on what someone posted.  I am still chewing over that one.

So this is where I am ignorant and need some guidiance.  If it is 
irrelevant what someone paid previously, why do we do comps or 
appraisals? Which I think are based entirely on some averaging of what 
others paid for similar properties nearby?  It certainly does not make 
sense to me that if the house next door sold yesterday for X, why would 
it have a heavier weight then this property itself sold for Y 8 months ago?

>  
>
>>The price hike I see is
>>a little more than alarming, and I don't want to be caught >with my pants
>>down.
>>    
>>
>
>The appraisal protects you from that.....you not only need a good agent
>...you need a good attorney.
>
Every appraisal I have ever gotten appraised the property to the amount 
of the sale price.  May be it's my luck, but it just seems the appraisal 
was done with a resultant number in mind.

>
>
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