Market Assessment

Asked by Investment Bound, Ridgefield, NJ Tue Jun 12, 2012

My mortgage broker told me to ask a real estate agent for the market analysis of a house that I am interested in buying but I do not have an agent. If a seller is asking 24k over the assessed value, is that appropriate in this market?

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Harriet Lewis’ answer
Harriet Lewis, Agent, closter, NJ
Thu Jun 14, 2012
Frequently, assessment and market value do not correspond. As a very experienced real estate agent who works in your area, I would be happy to speak to you further about the details and help you with a market analysis, if necessary. There is alot of competition on some homes now, and multiple offers in some cases as well. Please contact me at any time at (201)467-5738 or click to send me an e-mail.
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Dana Sahlberg, , Bergen County, NJ
Tue Jun 12, 2012

I would be happy to speak with you in further detail and see how I can help you. You may reach me at

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Mary Petti, Agent, Edison, NJ
Tue Jun 12, 2012

Are you buying a for sale by owner where there is no listing agent in addition to your not having an agent?

If so then I suggest you pay for and obtain an appraisal from a licensed appraiser to see what the current fair market value of the home is. I highly doubt an agent will just provide you with a market analysis so you can make an offer on the home, and he/she will not be paid to help make the sale happen.

Either that, or if the seller is willing to pay an agent of your choice, GET AN AGENT, and have him/her do the market analysis, then present to offer to the seller.

A buyer and seller with no agent representation can get tricky at best, and just plain bad at worst.
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