appraisals?
We are in the middle of a FSBO sale and I’m stressed about the appraisal given the crazy market…are banks still appraising at market value or are they being more cautious? We priced well, probably a little under what a broker would have priced, and got 5 bids in one weekend – it went for…
We are in the middle of a FSBO sale and I’m stressed about the appraisal given the crazy market…are banks still appraising at market value or are they being more cautious? We priced well, probably a little under what a broker would have priced, and got 5 bids in one weekend – it went for over asking. But now I am nervous. Anyone know what is happening with appraisals in brownstone Bklyn?
Brooklynnative….I didn’t attack the asking price for the apt. I attacked the fact that you used your Garden of the Day spot to advertise it.
My point was also proven last week when Mr. B took down an ad for an apartment rental that was posted on the Forum.
Yes, please, let’s not talk about people getting a mortgage based on a value and their downpayment and then they buyers slipping you extra dough just because they have it.
The lender would be lending money base on one sale price but the real one would be higher…and if you take that dough without filing it…well, good luck.]
Word of advice: unless you can sell it to a buyer who is not getting a loan, do not take cash or any other kind of exchange.
And if you don’t like the appraisers comps, be prepared to challenge their appraisal with ones that you’ve pulled. It drives me crazy when someone pulls a comp from Flatbush and a comp in Clinton Hill for something in Prospect Heights.
And if you don’t like the appraisers comps, be prepared to challenge their appraisal with ones that you’ve pulled. It drives me crazy when someone pulls a comp from Flatbush and a comp in Clinton Hill for something in Prospect Heights.
People tire of Dave because of his insipid humor and the inane conversations he engages in with the caped crusader – Biff Champion. They’ll drive away everyone everyone else away (except maybe that dingbat Nokilissa.) By the way Dave, remember that apartment you attacked me for for asking $4500, I rented it for $5000 and had a number of people who wanted it at that price. Cheers.
long story dave, if i see you on the block i will share.
Dave,
Only the bitter renters hate you (oh, and the real What and his army of copycats). Us homeowner types consider you family, even when we disagree.
But you’re right, that’s one wacky bunch of non-sequitors (sp?) from bsh.
Agree with your advice post above. I would add that OP could generate a few honest comps and suggest that the appraiser look at those. Where we’ve experienced low appraisals, it’s where the appraiser used unrenovated houses as comps, where there was about a $250k price difference between renovated and unrenovated comps (ok, I’ll name names, WAMU and eappraisit). Drives the average down.
bedstuyhoya…they hate me because i argue with them but you’re going to give us a bad name with that post!!! LOL what the hell happened???
I am looking for a recommendation for a plumber to connect my dryer to an existing gas line. I think I need about 10 feet of pipe to make the connection (plus all the applicable plumbing joints). Since this is gas, I need a reliable, certified plumber to complete this job.
Not to scare you, but we managed to get our house for significantly less than the contract price, because the bank appraisal came in lower than everyone thought (except me :). However, you have multiple back up bids, so this may be less of a concern. If the selected buyer doesn’t get a mortgage, you could go to the next guy/gal and see if they have more money to put down in the form of a down payment. That way they buyer has to borrow less.
The banks will only lend based on the appraised amount, however, if you have a buyer with lots of cash, they can agree to make of the difference in cash.
I hope it all works out and good luck!
The banks will only lend based on the appraised amount, however, if you have a buyer with lots of cash, they can agree to make of the difference in cash.
I hope it all works out and good luck!