Sandralee Pr…, Home Buyer in Viva P  Lapham, Cocoa,...

who is responsible for the home evaluation ?? my husband & I have been renting this house for 3 yrs now the owners want to sell *& HAVE US PAY UMMM???

Asked by Sandralee Presley, Viva P Lapham, Cocoa, FL Thu Aug 15, 2013

Help the community by answering this question:

+ web reference
Web reference:


Gerry McLoug…, , Naples, FL
Sat Aug 17, 2013
Hi Sandralee
Check out my fsbo tips. I have a network of really good agents if you need a free referral. Best Wishes, Gerry
0 votes
Terry Farnsw…, Agent, Lisle, IL
Fri Aug 16, 2013
Don gave good advice. It's not really clear from your question what the situation is.

If you are renting year to year, you don't need an "evaluation" unless you are buying it. Unless you are paying cash, your lender will order an appraisal of the property - and you will ultimately have to pay for it. If you are paying cash, you don't "need" an appraisal - but it would be a good idea to get one. Either way, it's likely your responsibility unless you have an agreement/contract that says otherwise.

Additionally, if you are in a lease option - this is one of the many reasons why I hate them. You have to essentially commit to a property too far down the road in the future. There is too much uncertaintly as to value, your financial situation, and whether or not the home will even suit your needs at that point.

The bottom line is - the seller is under no obligation to "prove" to you what the property is worth so you can determine if what you are paying is fair. You should be doing your due dillegence before agreeing to a purchase price.

Hope that helps!
0 votes
Don Tepper, Agent, Burke, VA
Fri Aug 16, 2013
I answered your similar question already. Please see that response.

Basically, if it's a lease-option, follow the procedure outlined in the option.

If it's a straight rental, have a Realtor do a CMA on the property.

It's not necessary for you to pay for an appraisal before going through the mortgage process.

From your other question, it's clear you're talking about an appraisal or some sort of valuation. As I said, for that, get a Realtor to do a CMA (unless an option specifies some other process). That won't cost you any money.

But in this question you're just asking about an "evaluation." One thing you should do--and I didn't mention this in my other answer--is get a home inspection. That'll do two things. First, it'll give you a good idea of any problems that you may not be aware of. HVAC, roof, etc. Second, it'll give you additional negotiating leverage with the owners.

Example (from my other answer): The owners want $300,000. You think it's only worth $275,000...or the CMA comes in at $275,000. You have the home inspection and the inspector finds some problems. (Tip: They ALWAYS do. That's what they're paid for.) So the inspector identifies $6,000 in actual or potential problems--maybe an old HVAC unit, or an old hot water heater, or some other issues. You then present the CMA plus the home inspection to the owners. "The CMA found that your property is only worth $275,000. And the home inspection says it needs $6,000 in repairs. So our maximum offer has to be $269,000."

Hope that helps.
0 votes
Annette Law…, Agent, Palm Harbor, FL
Fri Aug 16, 2013
Zillow has a 'Guesstimate."
Trulia has a 'Valuation."
Bank of America has a 'market value.'
Most find these random number generators to not be benefical to home buyer or sellers.
It is very likely you willl be financing the home purchase. Your lender will requir YOU to pay for an appraisal of the property. Depending on the lender you chooose. this appriasal good very well be FIAT. But, you won't know without a reliable neatural source.
As others have recommended, have a real estate professional complete an evaluation of this property and the market conditions. Without this data, you CAN NOT prepare for the obstacles ahead or know when you are being played.
There is way too much we do not know about this offer or your situation. For instance, if the seller (current owner) is offering seller financing.... and you are unqualifed to obtain a mortgage, the options and available actions are quite different.
If you are serious you need to pick up the phone and call a Cocoa FL real estate PRO.

Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
Serious people call!
Serious people need reliable data.
0 votes
W Ted Brown, Agent, Pensacola, FL
Fri Aug 16, 2013
If the owner is offering it to just you but needs a valuation then consider that if the owner put the house on the market for sale so anyone could buy it the Realtor would normally offer an evaluation called a Comparative Market Analysis (CMA). But if the owner did that someone else may buy it. If it's just you and the owner then if you want to buy it and the owner is making you come up with a value I'd suggest that you contact a local Realtor and explain what is happening and ask for advice. In a case like this there may be a charge for their services but it will most likely be well worth it to you since a home purchase is usually one of the biggest decisions that anyone will make in their lifetime. Usually though, someone that wants to sell will put a price on it however, the old adage of "he who has the gold makes the rules" comes into play and if you want to play you must play by the owner's rules if you want to buy the house. You have to decide if you want it badly enough. You could search the local MLS for similar homes to get some idea of value yourselves. Go to and take a look. is another and there are lots more. Good luck.
0 votes
Paula Pitts, Agent, Pensacola, FL
Thu Aug 15, 2013
Initially a pro real estate agent like myself would prepare a market value report. Agents do not usually charge for this.
During the home buying process, a Buyer may obtain a mortgage. As part of the loan process, the lender obtains an appraisal before finalizing the loan.

It was not completely clear what your landlord asking for you to pay.
0 votes
Holly Banno, Agent, Gulf Breeze, FL
Thu Aug 15, 2013
Good Evening Sandra,

In my opinion, the best action you can take is to call a local real estate agent. Ask some people who you respect in your community to refer a really good agent to you and your husband. Interview two or three highly recommended agents and then go with the one that you feel the most comfortable with.

They should be able to put a plan of action together that can be a win-win for all of the parties involved.

If you have any additional questions, you can always e-mail me at

I will do my best to help you in any way that I can

Good Luck!!!


Holly Banno
0 votes
Ann Ryan, Agent, Doral, FL
Thu Aug 15, 2013
Sandra, it sounds to me like what Diane is offering is quite the bargain. However, getting a few opinions on what the correct price is would be smart.
0 votes
Diane Harmon, Agent, Pensacola, FL
Thu Aug 15, 2013
What you need is a Real Estate agent to represent you. Since you have been living in the home. I suggest you call and agent in your area to see if they will represent you in the purchase of the home. I charge a fee of 1,295 to write the contract per the agreed upon price and terms between the seller of the home and you the buyer. The agent can run sold homes within that area and get a price the home will most likely appraise for. Which this will be your evaluation. If you are purchasing with a loan the home must appraise. Only an agent will be able to give you this evaluation. I am very successful in this as I have two homes under contract now that are FSBO and it works the same way. Good Luck. Diane
0 votes
Alan May, Agent, Evanston, IL
Thu Aug 15, 2013
Home Evaluation could mean different things.

If by home evaluation you mean figuring out what the house is worth...

* that could mean calling several real estate agents and asking them to give you a market analysis... (typically somewhere between free and a few hundred dollars)

* or it could mean hiring an appraiser... typically a function of the lender (paid for by the buyer)...

whether you pay, or the seller pays for either of those is "negotiable"... if you're not comfortable negotiating... well, then I wish you luck figuring out how much you're going to "pay" for the home.
0 votes
Search Advice
Ask our community a question

Email me when…

Learn more