Seller asking $50k more than home apraised for!
Looking at a particular home in the Lawrenceburg TN area, we found one we like. But the seller is asking about $50k more than what it is appraised for! Most other homes in this area are asking from to % LESS than their appraised values. The home has been on the market for a year with no offers made on it yet. The seller thinks he will get the asking price because they were told by a realtor their home was worth that much.
Would it be an insult to offer $50k less for such a home?
Does anyone know if Lawrenceburg is growing and home values are increasing?
When you say "appraised," I wonder how you know the appraisal value of the home, and whether you may mean that your own agent's opinion of value indicates that the home is over-priced. The fact that the home has been on the market so long indicates that the home may be priced over its value.
If the home appeals to you, make an offer at your price. Have you thought what you will do if you receive a counter offer?
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