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Answers (3)
- devin.bur
- Contributions:2
Since the last appraisal we have torn down our old garage (literally falling down) and built a new one from slab up and put in a new hot water heater - besides a few cosmetic finishes that is all. As for homes selling for more - supposedly but last time it seemed like a sure thing when we had B of A do the appraisal.
- SoCal_Engr
- Contributions:5663
When you talk to a lender, ask them about the potential value. A good lender (i.e., "person" vice "organization") is seeing appraisals all the time, and should be able to give you a thumbnail opinion of whether your house will appraise.
Is it a CMA? Nope. But, they're both just educated opinions.
Also, you already have a paid appraisal (albeit 6 months old) that came in at $160K. What can you point to that would support a $30K increase in appraised value? Are homes selling for more now than 6 months ago? Have you done anything substantial to increase the value?
- Matt Laricy, "Matt Laricy"
- Contributions:1620
Have your agent draw you up a CMA. (comparative market analysis) This will give you a good idea of what the property is worth. I am assuming since they sold it to you they have seen the inside. If you dont talk to them anymore, have an agent do this for you. Although, they should really see the house to give their opinion on price.
Est value of my home - 5416 N Lotus (before I waste $)
5416 N Lotus Ave Chicago 60630 - Frame, 1.5 stories, 2br, 1 ba, 1174 sq ft, 1.5 car garage. Please and thank you!
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