How can I tell what a home is appraised at?

Asked by Michelle, Exeter, NH Tue Nov 17, 2009

Help the community by answering this question:

+ web reference
Web reference:

Answers

4
Chuck Braxton, Agent, Meredith, NH
Wed Nov 18, 2009
In today's market with the Home Valuation Code of Conduct in place, we are all stumped. Even appraisers are getting second-guessed by the lender's underwriters (all the time).

That said, it takes a good understanding about where appraisals are coming in around your property to know what to expect. As others point out, that is tricky. If you are selling a home, I would strongly suggest a response to any offer with an appraisal contingency include a provision that the buyer deliver a copy of the appraisal report to you before they can walk, etc. While you might not like what is in the report, as a seller you need to know what is going on.

We are seeing as much as 40% of transactions fail to obtain appraisals that reach the value that buyer and seller have agreed upon. The shortfall ranges from 3-35% in these transactions. You or your agent can figure out how much more cash a buyer would need to come up with to fill the gap. Then, be prepared.

If you are buying, you have the advantage of using the appraisal to get a fair deal. Fact is, sellers need to understand that is the reality today. Even cash buyers will be using the appraisal to ensure that sellers are realistic.
Web Reference:  http://www.ChuckBraxton.com
0 votes
David - Appr…, , Maricopa, AZ
Tue Nov 17, 2009
Appraisals are not made public due to confidential information included in the summary report produced. The actual appraisal of a property is the work file created by the appraiser and is the property of the appraiser.

To find out what a home is appraised at, either current appraised value or a retroactive value, you would need to request an appraisal from an appraiser. Many appraiser provide various types and levels of valuation reports of real estate, depending on the purpose and use of the client, which cost less than a full interior/exterior appraisal.
0 votes
Bill Burke, Agent, Bedford, NH
Tue Nov 17, 2009
Hi Michelle,

There are ways to see what the property has appraised at in the past, however with the market changing like it has and so rapidly, the best way is to have an Appraiser do an Appraisal. if you work with a Realtor, they can look into it for you, however your lender will have an appraisal done prior to closing the deal and issuing a loan. It is part of the buying process. If you have any questions or would like help going through the buying process, feel free to contact me. It is best to have an agent represent you on the buying side to look out for your best interest and help with all the steps in the process and the negotiations.
0 votes
James Gordon…, Agent, Hamilton, OH
Tue Nov 17, 2009
Michelle you would need to have an appraisal done to find out. Your lender will order one that you need to pay for as part of the loan process on buying your new home.
Web Reference:  http://www.Find1Home.com
0 votes
Search Advice
Search
Ask our community a question
How To... in Exeter Zip Codes

Email me when…

Learn more