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Answers (2)
- Vince Curtis, "SoCal Appraiser"
- Contributions:4339
What Mitchell says is important. Typically an appraiser give most weight to sales within the Subject project as all condo project differ in some ways. We also look at ACTIVE listings and PENDINGS within the project, as well as the most recent sales. These are usually guildelines we MUST adhere to by the requirements of the lender we are working with. PS Note any improvements you have made since your purchase.
- Mitchell Feldman, "Full Time Broker"
- Contributions:774
Dear DLouie:
The appraiser will also look at other sales around the area and if there are recent ones that are equal to or higher then what you paid it should be OK. Size and condition will also be a factor. Try to explain to the appraiser why your condo may be more desirable than the others (higher floor, better view, etc) and you can also bring comparable sales to show the appraiser which you can find here on www.Zillow.com and/or www.PropertyShark.com.
If you need further assistance feel free to call me. Good luck!
Sincerely,
Mitchell Feldman
Associate Broker
Madison Estates & Properties
The appraiser will also look at other sales around the area and if there are recent ones that are equal to or higher then what you paid it should be OK. Size and condition will also be a factor. Try to explain to the appraiser why your condo may be more desirable than the others (higher floor, better view, etc) and you can also bring comparable sales to show the appraiser which you can find here on www.Zillow.com and/or www.PropertyShark.com.
If you need further assistance feel free to call me. Good luck!
Sincerely,
Mitchell Feldman
Associate Broker
Madison Estates & Properties
what can an appraiser use when determining a homes value?
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