If the appraisal report is required for your financing, that is the report you need to wait to make your next move. If the value comes in lower than your offering price, your real estate agent could always go back to the listing agent to ask the seller to lower his/her price. It is however, at the discretion of the seller, to make that decision. If the seller is stubborn and wants to keep his/her original accepted purchase price, It is now at your discretion to whether or not your want to move forward with the purchase.
The value of the property is different to different people. It is solely up to you to determine whether or not this property is worth at its purchased price. The true value of the property derives from what a willing seller and a willing buyer accept and escrow closes. Good luck
Tom Inglesby, RE/MAX Equity Group
As Laura pointed out, aggregate websites are not the best places for find property values.
Please read my blog "Big Banks - to big to love," here on Trulia to get a look at how aggregate websites 'value' compare to real world values. Yes, I through Trulia and Zillow numbers into the mix.
Aggregate websites are for entertainment purposes. Soliciting advise from strangers on the internet is universally seen as a truly bad idea. Yet, when it comes to something as important as a home purchase. we somehow believe invalidated sources showing random values should be viewed differently.
Read my Trulia blog, then, at the very least, refer to the website that come closest to the real number.
Best of success to you.
Annettte Lawrence, Broker/Associate
Remax Realtec Group, Palm Harbor, Fl
727. 420. 4041
Chat with me on: http://www.RealEstateMadeEZ.us
Trulia is not the best authority when it comes to a property's value as they are not representing homes only in your area but throughout the country. They base their home value estimates from tax and public records they obtain.
A local real estate agent in your location can give you a more accurate estimation on what the home is worth based on recently sold homes in that neighborhood. Those recent sales are the best indication of what the property may be worth. If you are financing then an appraiser from your lender will also give you a better understanding of the property's value.
Hope this is helpful and good luck on your home purchase!
Prudential Connecticut Realty