Home Selling in Wilmington>Question Details

Christine Fl…, Home Seller in Los Angeles County, CA

I would like to know how much my house is worth by getting an appraisal. How do I go about this when there are two homes on one lot?

Asked by Christine Flores, Los Angeles County, CA Sat Oct 2, 2010

A family member is currently trying to buy this property and has got an appraisal done already. But I would like my own. I'd like to give more detail to a Realtor on what the situation is. Please contact me at cmarneflores88@yahoo.com.

Help the community by answering this question:

Answers

6
If the appraisal that was done was from a bank, I am sure that there was no influence by the buyer when determining the value. The bank wants to estimate the value for the protection of the loan and the asset not necessarily to satisfy the buyer or to take advantage of any seller. You of course are welcome to pay for your own appraisal but remember both appraisers could potentially come up with slightly different numbers. They may be very close but not right on. Have you had an opportunity to review the original appraisal with your own eyes? By doing that you may understand how they determined the value based on recent sales of like kind property.

I hope this helps.

Alex Montelongo/Broker
Coldwell Banker Star Realty
562-810-7387 Cell
BRE Lic #01456982
-
0 votes Thank Flag Link Wed Jun 4, 2014
Dear Ms. Flores: You need to make sure that your home is appraised as dulplex on a lot.

Check the appraisal and see, if the appraisal on hand is for duplex or in other words two homes on a lot.

Also, I would recommend contacting your local realtor, to see, if the appraisal on hand is correctly done. To ensure that the appraisal pertains to the same market area with recent comparable sales.

Good luck.
0 votes Thank Flag Link Sat Dec 25, 2010
I would have to assume that the original appraisal is probably correct. If your relative is purchasing this property and the bank sent the appraiser, they most likely knew what they were looking into.

Good Luck!
0 votes Thank Flag Link Sun Oct 3, 2010
I have the name and phone number of an appraiser who is free from bank contracts, in that, he can provide the consumer with appraisal for a fee and without influence by an agent. I will need to confirm the information with my manager and will only repost on this, if I am wrong about availability of appraiser
0 votes Thank Flag Link Sat Oct 2, 2010
The first item on your agenda in my opinion would be to contact your local planning division. With just one APN, value would be determined for both homes, as far as a lender is concerned. For individual value, the lot will need to be split.
Web Reference: http://www.umboc.com
0 votes Thank Flag Link Sat Oct 2, 2010
Hello Christine,
I will be happy to check into the CMA of the property of yur interest. I will be able to run a CMA if you provide the address.
I may reffer you as well to professional appraisal, if you want a full legal appraisal and you are ready to pay for his service.
Please contact me at:
TeresaKrawiec@msn.com
or cell: 626-347-6281
0 votes Thank Flag Link Sat Oct 2, 2010
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer