If home is selling below assessed value, how does one go about getting it re-assessed to be comparable witht the purchase price?-

Asked by Redwuds, Exmore, VA Fri Jul 27, 2012

This question was asked from http://www.trulia.com/property/3003486951-540-Jefferson-Ave-…

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Playa-blanca, Home Buyer, Cape Charles, VA
Fri Nov 30, 2012
Generally, you don't get one property reassessed in that way or due to that reason. All properties in that area are assessed at higher than market value. They are working on a county wide reassessment now. Also, appraisers don't assess. They appraise. Two different things for different purposes.
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Sony Kim, Agent, Haymarket, VA
Fri Jul 27, 2012
You can get an appraiser to re-assess the value of the home. Get your own appraiser not the bank's.
The problem when selling is that the bank will not loan up to market value, just the assessed value that the appraiser assessed. If appraiser cannot come up with to purchase price, then seller has to lower his/her price or buyer has to come up with the difference or meet in between.
Good luck!
Sony Kim
Keller Williams
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