From: una@att.net (Una)
Newsgroups: misc.consumers.house
Subject: Re: Bank  Appraisal - Selling Price
Date: Sun, 23 Sep 2007 17:03:03 GMT
Bytes: 1817

Travis Jordan  wrote:
>Have your real estate agent do 'comparable sales' based on the last four 
>months of sales history in your area.  If your agent says "we can't / don't 
>/ won't do comparable sales because (fill in the blank)" then find another 
>agent.

That's what a licensed appraiser does, at least in my state.  On the
house I bought I got copies of 3 appraisals:  #1 ordered by the seller
before the house went on the market, #2 ordered by me, and #3 ordered
by my bank.  The appraisals each used 4 comparable houses, no houses
in common.  The appraisals were done by 3 separate appraisers, each
with a different company.  All 3 apprasials were within a few percent
of each other.

Those appraisals set the market value of the house, given no knowledge
of condition problems or pending events.  I bought the house for much,
much less than its market value because there were condition problems
and an enormous utilities construction project was just about to start.

	Una