Quote:
|
Originally Posted by yorkieangel I would never pay more then a house appraised for. Whatyour agent really was saying when she said the house RE -APPRAISED... was that they pressured the appraiser to make the price higher so they could get the sale.
I would have told the people selling the house they had to come down $2000 because the house didn't appraise for the price. if your contract was written correctly (which I assume it was), you are left an option of backing out if the house doesn't appraise. You should have used this to your advantage . Did your agent discuss this option with you or just go and do the reapraisal to get the sale????? |
When you've bought and sold enough houses, you learn the rules of the game.
An appraisal is just an educated guess. And two different appraisers can come up with very different figures. It's just a number that the banks need, other than that it just puts you in the ball park.
Basically a house is worth what a person is willing to pay for it. There is no scientific way to figure it.