Originally Posted By: Zep
Originally Posted By: Bill D.
That's what those folks do for a living and their opinions are the only ones that count when folks go to get financing to purchase.


Not really....it depends on the property and the buyer. I assure you my brother and I would not have purchased our property had the ponds not been there.

I had a real estate lady tell me once "you just can't justify this price.($269K)..because the comps per sq foot just are not there....we need to ask $230K max". I said "oh really?...I've lived in this house 40 years and know this area....the convenience....the yard...the landscaping....the interior design...and it will sell within 60 days". It sold for $272K in 47 days.


A real estate lady is not an appraiser. Appraisers have to find comps and justify their valuation, not just provide an opinion so she can get you to price the property low enough to get a quick sell and save herself time and effort. I've been down that same road. Sold our last house in a month for a whole bunch more than our real estate lady recommended we list it for.

If the buyer doesn't have the money to purchase out right and needs to go to the bank for financing then the bank requires an appraisal and loan amount is determined by that. Example..If I want to pay $500K for a property and it appraises at only $400K and the bank is willing to finance 90% of the appraised value then I need to come up with the difference out of my own pocket if I want to buy the property anyway. Offer to buy around here always includes the clause that the property must appraise the same or higher than the asking price or you have the option to take the earnest money you put down back and the offer is void.

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