At the end of the day, every transaction is different in some way, shape ro form!
A buyer can pay for their own appraiser before submitting an offer on a home. An appraisal is the professional opinion of the appraiser. I have seen different appraisers come up with different values on a home. Your lender most likely will not be able to use your appraisal because they have their approved list of appraisers. If you choose to order your own appraisal, get some recommendations from real estate professionals in your area to get a good local appraiser to work with.
Prudential California Realty
When you've been in or around the business a while you'll realize that an appraisal is more detailed but no more accurate than what good agents can come up with. In many cases as an agent, I'm in more comparables to my clientâ€™s properties than an appraiser is. I've seen the condition of the home in real life rather than just MLS pictures which can hide a multitude of issues, both positive and negative.
The one exception would be a very unusual property or one outside of my expertise. I have consulted with appraisers for properties when comparables didn't seem easy to find and needed to use the best available but then adjust for age, condition, size, acreage or special features.
Appraisals are an opinion of value and contain subjective elements. Two different appraisers will come to two different conclusions in many cases. The true market value of any home is the price that a ready, willing and able buyer and seller come to agreement on.
In my opinion the appraisal is a verification that the terms of the contract are reasonable and the buyer is not taken advantage of. In my experience many appraisals come in at or above value, but those that come in higher are always suspect. If a home is really worth more than the offer, why didn't someone else come in and offer more? Provided the home has been on the market for a reasonable amount of time, the price agreed to is the market value regardless of what an appraiser says, before or after the offer.
Why not? It only serves to make a good offer stronger. Buyers do a pre-listing appraisal all of the time and agents are recommending this to help foster accuracy.
From where I stand, all the seller has to do is say "no." Don't we as agents provide buyers with comparison information to help with processing an offer? It's part of the process. What harm could this request possibly do?
If the home is priced as it should be...then there should be nothing to hide......I believe it to be fair and reasonable.