The Benders, Home Seller in Gilbertsville, KY

How do appraisers get comparables if there are no sold properties in the 5-7 mile radis? We are under contract and waiting for the appraisal.

Asked by The Benders, Gilbertsville, KY Wed Sep 21, 2011

I can't find any "Sold" property lisitngs on trulia. How come they aren't listed?

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3
If you are trying to decide what to sell for, or what you should offer, you should find a realtor who can give you the comparables that they would use. More important than how far away in certain areas, is how recently they were sold,
0 votes Thank Flag Link Thu Sep 22, 2011
Thank you for your response...It made me a bit more confident in our appraisal being accurate. May I also note that in selling a home an educated buyer would want to know local actual property values. That is why I believe the services Trulia provides in selling homes is to also offer the "recently sold homes" search. This information is provided under the "Buy" tab. I was just wondering why in our area there are never any recently sold homes listed. Thank you again for your time and the answer to our question.
0 votes Thank Flag Link Thu Sep 22, 2011
Trulia is for selling homes, not telling people about the ones that have sold. An appraiser will go outside of a 5-7 mile radius if they need to. Appraisers do two types of valuation on appraisals. One is the cost approach which estimates how much it would cost to build the house today and the other is from comps that have sold. There is a wider margin if comps are scarce.
0 votes Thank Flag Link Wed Sep 21, 2011
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