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Answers (5)
- RichardReid
- Contributions:197
Most agents are happy to do a market analysis - even if they know if is just for a refinance. I encourage home owners to maintain a relationship with an agent throughout their ownership experience. There are a number of situations where an agent's advice can come in handy - outside of the scope of a standard purchase or sale of a home.
Agents can provide what is called a Competitive Market Analysis or a Broker's Price Opinion. While this is similar to, and may be the same data as an actual appraisal, it is not eligible as an appraisal for most loans.
If you wanted a detailed report with an on site visit, or were looking to have work done for a number of properties, an agent may charge somewhere in the neighborhood of $250 - $450 for such services.
Agents can provide what is called a Competitive Market Analysis or a Broker's Price Opinion. While this is similar to, and may be the same data as an actual appraisal, it is not eligible as an appraisal for most loans.
If you wanted a detailed report with an on site visit, or were looking to have work done for a number of properties, an agent may charge somewhere in the neighborhood of $250 - $450 for such services.
- Courtney Wheeler, "courtney.wheeler"
- Contributions:84
I am sure your local REALTOR could do a quick CMA on the phone or via email for you. The bank will do an appraisal for a refinance anyway, and that is how they will determine the value of your home for the purposes of the loan.
- SIRCO1
- Contributions:5
Shawn:
Thank you for the helpful information. I was hoping to get a "ballpark" CMA to see if a Re-Fi is in the realm. The realtor I called was very helpful. I said I knew you (sorry) so he would help me. I hope you don't mind, thanks again.
Ray, GA
Thank you for the helpful information. I was hoping to get a "ballpark" CMA to see if a Re-Fi is in the realm. The realtor I called was very helpful. I said I knew you (sorry) so he would help me. I hope you don't mind, thanks again.
Ray, GA
- Art baghdasarian, "anahid1"
- Contributions:22
they should not charge, but at the end the bank will not accept that report they will send a appraisal to conform, if you can get more than one CMA report do it you,l have a more realistic value , if I can be of a help let me know, ( no charge ) good luck art
- Shawn Rogers, "Mister Rogers Homes"
- Contributions:912
Jbshowell,
Good Evening.
Most REALTORs will not charge for a CMA, however, those comps are to the very best of said agents abilities and very rarely used by the bank or lender for a re-fi. They actually do a quick comp (on the phone, when you are doing the app) and then a more accurate one closer to completion of the re-fi. Or that's how they do it here in sunny Arizona.
I hope that helps.
Have a BEAUTIFUL night.
-Shawn
Good Evening.
Most REALTORs will not charge for a CMA, however, those comps are to the very best of said agents abilities and very rarely used by the bank or lender for a re-fi. They actually do a quick comp (on the phone, when you are doing the app) and then a more accurate one closer to completion of the re-fi. Or that's how they do it here in sunny Arizona.
I hope that helps.
Have a BEAUTIFUL night.
-Shawn
Will Realtors charge to do a Market Analysis on my home so I can refinance? If so, about how much?
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