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List at appraised value. Even if the property would sell higher than appraised value the buyer would have to agree to come up w/the difference or be a cash buyer who "doesn't mind" paying over value
I was just checking properites on 2.5 or more acres between 225K and 250K. Right now there are 5 properties listed at $250K. If we list for less, I except we will get noticed since there are none for less in this range.
How old is the appraisal? Remember that an appraisal is a historical document, the market changes daily and hopefully you are in an area where it it is moving to the positive side. As an appraiser and agent I would recommend pricing at just higher than appraisal, and being willing to accept an offer at or above the previously appraised value.
Talked to realtor and decided to change price to $234,900 based on the 230K appraisal. This gives us a little room. I guess it is sell low, buy low right now since we are selling and buying in the same area.
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I have an appraisal - what should I do?
andyman68
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I have an appraisal. My house is listed for $259,900 and the appraisal is $230K. The appraisal sense and seems fair to me with the comparable sales and adjustments. One comparable was the house I mentioned that sold last week for $262K and was listed for $265K. Another comprable sold for $215,900 and another for $239,900.
There are 16 comparable properties offered for sale from $210K - $290K and 10 comparables have sold in the past 12 months for $210K - $290K.
There is a steady demand for properties on small acreages and they estimated marketing at 3 - 6 months.
My inclination is to drop the price 20K to $239,900 and take $230K if anyone offers or do I list for $230K and accept nothing less. Any opinions appreciated.
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