If you know any realtors, you can also ask them for their opinion, and compare that to what the landlord wants for it. You could also try putting something into the sales contract that the property has to appraise for at least the selling price. If it appraises for more, you come out ahead, but the seller benefits by not having to put the house on the market, and not paying a broker fee.
I agree that you should not pay for an appraisal if you are planning to take out a mortgage, because that appraisal cannot be used, so you would just be wasting your money.
If you plan on obtaining a mortgage for the purchase of the home, let the mortgage company order the appraisal. If you order on your own, you will pay for that appraisal & then you will have to pay for the appraisal that the mortgage company will require.
I would be happy to discuss the different mortgage options that would best suit your needs to help you move forward & coordinate the appraisal order for you.
We can also discuss options on how to have your landlord pay the closing costs you would typically pay when buying a home. Feel free to reach out to me. Best of luck!
Joseph S. Cordova
Trusted Mortgage Advisor
Evesham Mortgage, LLC
65 East Route 70, Plaza 70
Marlton, NJ 08053
856-985-9944 ext. 103 Tel