Portguy987, Both Buyer and Seller in Portsmouth, NH

I just bought 1185 maplewood ave. portsmouth Nh for 340,00.... was it a bad deal?

Asked by Portguy987, Portsmouth, NH Wed Mar 23, 2011

Help the community by answering this question:


Probabily not a question you should ask after you close, you should have asked before you closed. One really needs to assess what the house is worth in todays market and base their offer on that. Values have fallen anyweher from 12 to 20% in this area from the high value of 2007. If you got a mortgage then obviously your house appraised at least your purchase price, if you are happy then that is all that counts
Web Reference: http://www.ScottSellsNH.com
1 vote Thank Flag Link Wed Mar 30, 2011
Hello there,
Looking at MLS data, it appears that you had a conventional loan, and paid $347,500 (with no concession from the seller). The Seller paid $345,000 just a few years ago (2008) and while most of the upgrades were done before they bought it, they did some further upgrades after they purchased (upgraded lighting, added fencing, etc). You got more than 20K off asking price, and hopefully the bank appraisal was at least equal to the purchase price. Best of luck with your new home, and enjoy all that Portsmouth has to offer :)
1 vote Thank Flag Link Sun Mar 27, 2011

Without knowing the local market, if you closed and financed your purchase it would be fair to assume the bank did an appraisal and the home appraised for the contract price. If so, this is an indication of a solid transaction....for now.

On the other hand if you paid cash and didn't have an appraisal done to varify the property's value, it may be helpful to have an appraisal done for peace of mind.


1 vote Thank Flag Link Thu Mar 24, 2011
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