Another question is what is the purpose of knowing the value? Is it to sell, is to refinance or other legal matter. For refinancing and legal matters it might be required to get an appraisal done. If it is to sell contacting a competent Realtor can help you understand what the market is indicating to produce a sale.
Associate Broker, ABR, SRES
Keller Williams Real Estate
2901 Emrick Blvd. Suite 100
Bethlehem, PA 18020
What you just described is the Genisis of why real estate professional MUST protect the homeonwer by vetting the buyer....and their lender....more thoroughly.
If the buyer is packing paper from Wells Fargo, Quicken, Bank of America, Chase, Citi, you can, with great confidence expect a LLLLlOOOOOWWWWW appraisal. Remember, the bank imposes selective criteria on the appraisr when completing their assignment. Then to observe them pulling fictious numbers off aggregate websites should make everyones blood boil. I would not want my name appearing adjaent to their logo or on my brokers front door.
A buyer should expect their offer to get kicked to the curb, not becuase of the negiotaited price but because the bank will imose their will on the outcome via a Fiat appraisal and the deal will die. Everyone will have lost money, time and opportunity.
Buyers should conslult with their real estate professional regarding the lenders who have a track record of closing on time, under budget and without all the drama. Based on the buyers circumstances and the property to purchase, the best lender can be selected.
An alternative would be to select an "A" or "B" graded local lender who has a track record of investing in the community through small business and home loans. The big banks are all "F" graded.
Enter you zip or city at:
The consumer is not helpless! Ask your real estate professional. There are more optoions that bypass the 'big banks' then you realize.
Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, Fl
It really leaves the consumer in a helpless position at the end of the day.
We are not appraisers but comps give us an accurate idea of what the property should list/sell for.
Thank you for your interest.