Also, keep in mind some Realtors do factor in some "wiggle" room in their comps, though that varies from Realtor to Realtor.
Also, as some have stated, it is also not a science and there can be some difference, once again depending on the price of the home in total!
Let me know if I can be of any help!
Kentucky Select Properties
There is much that is subjective about determining the fair market value of any home. Even the same professional might come up with different numbers when looking at the same home at times several months apart because the homes used for comparison may be very different. But it is frustrating when this causes buyers and sellers trouble.
One thing I will note is that, while it can be hard to get an appraiser to change his/her opinion, you may be able to re-negotiate with the buyers or you might work with the buyers to find another lender. Often buyers think that being rejected by one lender (for any reason) means they will have the same experience elsewhere. Often (especially in current conditions) nothing could be farther from the truth.
I hope this helps.
Prudential Real Estate of the Rockies
Soooooo, selling half interest in a divorce is different than selling it to a stranger. But, if a lender ordered the appraisal during a loan application process there is a very good chance the appraisal is accurate. If you think it is wrong you must provide proof and the process must be in writing. Good luck,
NMLS # 6395
Financing Kentucky One Home at a Time
Therefore, it would be hard for you to argue with the other half-owner that they should go with the realtor-assessed property.
You can request a copy of both reports and look at the comps used for each. If they are different, look at the differences/limits (time, distance, size, amenities) and see what each used as limits. If you feel the appraiser could have used different comparables and stayed within the limits required, you can appeal the appraisal. Good Luck!!
What are the numbers?
If you're talking $700,000, then $20,000 isn't much.
If it is $100,000; then $20,000 is quite a substantial amount.
You cannot give us a small piece of information and expect an educated answer!
No matter which number you go by; you are only setting the starting point for a sale:
You are NOT determining the SELLING PRICE!
The Buyer will some say in the matter.
You are just trying to attract some interest. So don't sweat over this too much.
Good luck and may God bless