Profile picture for bookerpangou

Should I sale my house for the appraised value or should I ask for more money?

On Zillow my house is zestimated at $129,000, but it appraised for $95,000.00  What should I do? Should I ask for more than appraised?
  • July 30 - Thomasville
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Answers (7)

Profile picture for Sarah Jarvis
Ultimately you are trying to sell your house at market value.  We wrote an in-depth post about it [content removed by Zillow moderator] that you may find helpful where we discuss the differences (and purposes) between appraised values, assessed values and 'zestimates.'  

Remember that the market will ultimately tell you if you have priced it correctly.  Pay attention to your feedback and make sure your representative is aggressive in both obtaining and qualifying the feedback you receive.  
  • August 02
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Profile picture for Bkgdc
You should talk to a few local, experienced REALTORS.  They can help you to market your home, including the suggested list price.

Buyers determine the value. Not Zillow, not appraisers, not REALTORS, and not sellers.
  • August 02
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Remember, if the buyer of your home has to get a loan, their lender will not loan more than what the house appraises for based on an appraisal (not Zillow, sorry).
  • July 30
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Profile picture for hpvanc
If you mean the county or whatever government entity assesses properties for tax purposes in your area then maybe, it will depend on how the assessors appraisal correlates with transaction prices in your area. If the appraisal was performed by a Certified Appraiser either hired by a lender or hired by someone else, it is extremely doubtful you can get much more than the appraisal.

As to using the Zestimate, if you have had an official appraisal by a licensed appraiser forget the Zestimate, if not you need to do some more homework to try to use it. You need to 1st determine how accurate they are to transaction prices in your area, then determine if they are currently trending high or low. Then after you have determined accuracy and trend, you need to figure out if your property is reasonable for the area, and be fully honest with yourself when doing it many owners can delude themselves into believing they have the most valuable property in the area.
  • July 30
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Profile picture for SoCal Engr
Short Answer, Question, Statement and Opinion...

Short Answer: No.

Question: Who appraised the property? Was this an appraisal performed for a potential buyer's lender?

Statement: Zestimates are an automated valuation, but can have significant margins-of-error. Most importantly, a Zestimate works off of sterile data, albeit influenced by recent sales in your area. Zestimates cannot look at the condition of your house, or sightlines, views, nor upgrades. So, an actual appraisal should be more reflective of value than a Zestimate.

Opinion: Unless you have some driving need, you're asking for trouble by asking over an actual appraisal. If a buyer needs to finance (and most do), the lender is going to lend against the appraised value. If the sale price is higher than the appraised price, the buyer would need to bring the difference to the table in cash (assuming they'd even still be willing to pay the higher price).
  • July 30
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Profile picture for Hannah Tai Homes
Have a local agent familiar with your area do a comparative market analysis (CMA) based on recent sales in the area). Also take into consideration the condition of your home and all other aspects specific to your house. It's important to price correctly. Over-pricing usually winds up getting you less money in the end, but you also want to make sure you're not too low. Again, a CMA and a knowledgeable agent are your best friends. Good luck!
  • July 30
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Profile picture for wetdawgs
A Zestimate is a starting point, and appraisal (paid for, in person visit) is more accurate.
  • July 30
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