i am looking at a home this week which i think is way overpriced..the assessors office says it was bought in 2006 for 35,000,
now they are asking 77,000,over double the price bought 3 years ago.....how can i find what the true appraisal was 3 years ago? I have been informed here in Arkansas, it isnt standard procedure to let a buyer get a private appraisal....so why should i wait to make an offer to the owner, and letthe bank do the appraisal....i can not know what good offer to make if i cant find out at least a good idea of the homes current value
Hi Vinny. Remember, today's value is based on today's market. The purchase price in 2006 has nothing to do with today. It may have been a great deal or over-priced. A local real estate agent can supply you with comparable sales based on the current market. With that information in-hand, you can make an informed decision about the value.
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