You can always contact someone to have an independent appraisal done so at least you can have a starting point for negotiation of the price. However, if your friend is financing the lender is going to order that an appraisal to be done. There is the possibility of the lenders appraisal coming back less than your independent appraisal. So unless your friend is putting down 20% or more there is the possibility that you would have to renegotiate based on the lenders appraisal.
Sound confusing. It definetly can be and that is why it would be wise even in a situation like this to consult with a realtor. We can help you even if we are not the one listing your house for sale.... more