Profile picture for Kristakissie

Should I have an official appraisal?

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
December 27 2008 - Westminster
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (5)

Why do you wants to get an official appraisal done on what real estate, would you please let us know.? Thanks.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
January 09 2009
Profile picture for sunnyview
GRI is right, if you are buying you should have an appraisal and a solid inspection done. A CMA is not enough even if you are paying 100% cash. If you are selling, it is your call whether you want one or not, but it is really not as critical if you have a solid idea as to your homes value.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
December 28 2008

A certified appraisal is an opinion as to the value of your home.  However, appraisers are not home inspectors.  Appraisals are for lenders and home inspections are for buyers.  As per HUD, if you are concerned about the condition of the property you are considering buying or selling, you need to secure a home inspection to make sure the home is free of serious defects, identify items that need to be repaired, and have all the major mechanical systems checked.

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
December 28 2008
Hi kristakissie,
it really depends on what you are getting the appraisal for...

if you are buying a property and are not sure about the value you and the seller agreed upon ... yes get one...

if you are paying cash and again not sure if you over paid for the property then then... yes get one...

if you are re-financing the bank will require one... and the bank will order...

if you are the seller ... no do not pay for an appraisal... have your Realtor do a comparable analysis... they should be able to get you in a realistic range of what the house is worth...

if you need it for a stepped up basis due to a death, you may wish to... although I have done these for clients as a comparative market analysis and the lawyers have accepted this valuation...

keep in mind it depends what you are using the appraisal for and who needs it, that will depend on who orders, pays for and uses the information.

good luck...
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
December 27 2008

Hi Krista,
would you care to elaborate?

Generally speaking I advise to have as many inspections and do as much investigating as possible when purchasing property.
An appraisal is a good idea even when making a cash purchase.

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
December 27 2008
 
Related Questions
How can I buy a forclosure house?
Profile picture for Dunes ..
Latest answer by Dunes ..
June 13 2013 | 6 answers
Is it wrong to ditch my agent?
Profile picture for Robert  Walker
Latest answer by Robert Walker
May 29 2010 | 14 answers
Should I have an official appraisal?
Profile picture for Shawn Pru
Latest answer by Shawn Pru
January 09 2009 | 5 answers
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 5212 Harvard Ave, Westminster, CA Home For Sale
    5212 Harvard Ave, Westminster, CA 92683

     For Sale: $735,000

    • Beds: 4
    • Sqft: 1950
    • Baths: 2.0
    • Lot: 6505
  2. 9702 Sabre Ave, Garden Grove, CA Home For Sale
    9702 Sabre Ave, Garden Grove, CA 92844

     For Sale: $485,000

    • Beds: 3
    • Sqft: 1296
    • Baths: 2.0
    • Lot: 6216
  3. 13672 Goldenwest St G Westminster Ca # 92683, Westminster, CA Home For Sale
    13672 Goldenwest St G Westminster Ca # 92683, Westminster, CA 92683

     For Sale: $79,000

    • Beds: 0
    • Sqft: --
    • Baths: --
    • Lot: --