Home Selling in Somerville>Question Details

Laura Stne, Home Buyer in Boston, MA

I am looking for someone to come and do a free appraisal of my home before I sell. I live in Somerville, MA. Do you do this?

Asked by Laura Stne, Boston, MA Sat Aug 4, 2012

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8
Please email me and I will see if I can arrange it for you!!
0 votes Thank Flag Link Fri Oct 26, 2012
I can look into it for you please email me.
0 votes Thank Flag Link Fri Oct 26, 2012
You'd be surprised how much saving that $375-400 cost of an appraisal will cost you in additional mortgage payments or money left on the table because an agent is trying to impress you and get your listing. This is why they're considered disinterested third-parties.
0 votes Thank Flag Link Thu Aug 16, 2012
Most agents will perform a free Comparative Market Analysis (CMA) which will provide you with an estimate of your home's value on the market. This is a free service that agents provide in the hopes that you'll utilize their services as a sales listing agent. The CMA is done by comparing the location, size, features, and condition of your home to other properties in your area that are currently on the market, or that have recently sold. It's generally best to use an agent that lives, works, or specializes in your area since they will be familiar with the sales history and will have presumably visited many of the other homes currently on the market to provide you with the best estimate.

As for a free appraisal, an appraisal is usually performed by an appraiser that is hired by the bank underwriting the mortgage. The appraisal value will be used to determine the maximum mortgage amount that the bank is willing to finance on the property being sold/purchased. This is a step where some contracts may fall apart since often times there will be language in the purchase contract that stipulates the agreed purchase amount is contingent on mortgage financing. If the appraiser values the property at or above the purchase amount, the contract fulfills the mortgage contingency, otherwise if the appraisal value falls below that amount the contract may be void.

Appraisers get paid, usually by banks, who then usually charge the borrower/buyer of the mortgage the cost which will go into the closing costs. Banks writing mortgages generally do not accept any other appraisal report other than the one they paid for, so it is not to your advantage to get a free or paid appraisal separately from the bank.

I live in Somerville and right now there is an extreme shortage of properties on the market with an abundance of buyers making for a great seller's market. If you have any other questions, feel free to ask or contact a local agent.

Regards,
Jonny
0 votes Thank Flag Link Tue Aug 14, 2012
Hi,

I would be happy to help you determine where your home would place in today's market. Please give me a call and I will meet with you at your convenience and review your ideas and options for the sale of your property at this time. I am quite familiar with Somerville.

Sincerely,

Heather LoRe, Realtor
Century 21
Cell 978-604-6521
0 votes Thank Flag Link Mon Aug 13, 2012
If you are serious about selling you can get market estimates or you can call an apprasial service.
0 votes Thank Flag Link Sat Aug 4, 2012
Is the next step, asking for a Realtor to sell your house for free?
What kind of work do you do for a living, for free?
0 votes Thank Flag Link Sat Aug 4, 2012
Hi Cala4250,

I doubt you will find an Appraiser who will do a free appraisal on your home. However, most Realtors will do a free Comparative Market Analysis (CMA) on your property in the hopes you will list your house for sale with them if you decide to list. Call a few local Realtors to see if they will assist you.

Shanna Rogers
SR Realty
http://www.RealtyBySR.com
0 votes Thank Flag Link Sat Aug 4, 2012
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