Home Buying in Appleton>Question Details

anderson4475, Home Buyer in Appleton, WI

If a home is tax assessed at $250k and appraised at $260k and the asking price is $275k what is a fair offer price?

Asked by anderson4475, Appleton, WI Mon May 7, 2012

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Lisa Ripley, Coldwell Banker ’s answer
Tax assessments are tricky, as you have to make sure the town has been recently re-assessed, or else it may be inaccurate. Also, if significant work has been done to the property and the town doesn't have record, this may affect assessed value also. Appraisals are the same- when was it last done?

Also, a market analysis done by a realtor will help you answer this question. We look up sold comparables and what is active on the market and come up with a price range to offer accordingly. You just need to work with a buyer's agent and they can provide you with this service :)

Lisa Ripley
0 votes Thank Flag Link Mon May 7, 2012
It really depends on the house. The best indicator of the value of real estate is based on recent sales of comparable properties. Do you have an Agent? A REALTOR can help you to answer these questions. Some other things to take into consideration: How old is the appraisal? When was the last time the municipality assessed the Property? Hope this helps!
1 vote Thank Flag Link Mon May 7, 2012
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