Profile picture for user570724

What credibility you z-estimates have?

My home's current z-estimate is $342,000. I recently applied for a home equity loan. They arranged an appraisal at my cost ($350). Based on your z-estimate I confidently agreed to pay the amount as the difference between z-estimate and my remaining mortgage is way more than the loan I asked for. But the appraiser appraised it to just $190,000. The credit union denied my loan application. I lost the appraisal fee.

My question is on what basis you estimate the current price of the houses. Can you justify your estimated price of $342,000 of my condo? If not, then I have to say that your z-estimate is completely misguiding.

Let me know if you need further details.

Thanks,
Sat       
  • October 03 2013 - Crossroads
  • 0Yes

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Answers (1)

Profile picture for daveskow
what are other  similar  type / age/ size condos selling for in your immediate vicinity ?   ( this is  what you  should use as a guide on value )
  • October 03 2013
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