Lately I've had more and more bank apprasiers coming back out looking at the homes buyers are wishing to buy.
Armed with tape measures, camera and a notepad - the jot down their impression of what the home is worth.
I always come armed for what can be a nail bitting situation. I know I've done my job, but this person hired by the bank ISN'T a Realtor®. They don't live in the area, and have no clue on what the market is doing.
I always offer a list of comparables and where I got my numbers from. We all understand what the list price is and sale price is - what the buyer is willing to pay.
I know they are not the enemy - but WE never get to know what they valued the house at. Very rarely - and sometimes if we do find out....they are so far off - it does leave me scratching my head on how they reached that number.
Just recently I had one that appraised $25,000.00 less than the sold price. A direct comparable with less upgrades and not on a water view lot sold for more than mine did. What the heck?
Another Realtor® friend had the same thing - this time the apprasier went in before she listed it - but he too came in $30,000 less then anything around the same area that had recently sold.
Maybe I need to take an appraisers course - to get inside their heads. I have no clue - where or how they get prices. Especially when - houses are selling for more in the same area for comparison.
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