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JoJo2010
Happy Family
Member since 8/09 6266 total posts
Name:
JO
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appraisal vs purchase price
Just wonder without telling numbers what was the difference in your appraisal vs what you bought it for.
Ours was appraised for $15,500 more than our purchase price.
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Posted 9/8/10 4:30 PM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
Cheeks24
Living a dream
Member since 1/08 8589 total posts
Name:
Cheeks
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Re: appraisal vs purchase price
$50k more
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| Posted 9/8/10 4:31 PM |
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Mrs213
????????
Member since 2/09 18986 total posts
Name:
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Re: appraisal vs purchase price
it was 5k more than what we paid for it...
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| Posted 9/8/10 4:37 PM |
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Re: appraisal vs purchase price
Posted by Mici C
$50k more
appraised at 50k more or you paid 50 k more?
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| Posted 9/8/10 6:18 PM |
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CAMCaps
Live Laugh Love Run
Member since 6/07 4922 total posts
Name:
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Re: appraisal vs purchase price
It appraised for 20+k more.
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| Posted 9/8/10 7:20 PM |
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sometimesmommy
Always in my heart.....
Member since 11/06 6686 total posts
Name:
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Re: appraisal vs purchase price
same price but our broker was crooked and think knew the appraiser.
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| Posted 9/8/10 7:39 PM |
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Salason
♥
Member since 6/05 9878 total posts
Name:
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Re: appraisal vs purchase price
exactly the same
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| Posted 9/8/10 7:43 PM |
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MaZz
* Lovin my baby girl!!! *
Member since 2/09 6243 total posts
Name:
Gina
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Re: appraisal vs purchase price
Posted by Salason
exactly the same
ditto... seemed a little fishy to me though... like how can that be KWIM?
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| Posted 9/8/10 8:05 PM |
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JandJ1224
Member since 6/06 5911 total posts
Name:
Jannette
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Re: appraisal vs purchase price
appraised 20K more than purchase price
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| Posted 9/8/10 8:33 PM |
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-Lisa-
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Member since 5/05 6530 total posts
Name:
Lisa
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Re: appraisal vs purchase price
Posted by MaZz
Posted by Salason
exactly the same
ditto... seemed a little fishy to me though... like how can that be KWIM?
its actually pretty common, and usually not fishy.
IF the purchase price reflects the fair market value for the house, they should be [about] the same. There's usually some leeway in deciding the exact appraised value to put on the report, so if the purchase price is in that spread, it makes sense to use it. To go below causes problems for the sale, to go above benefits no one and sometimes prompts questions from the lender...(though it does make the buyers feel like they got a deal, and some appraisers will always "push" the value for the highest possible)
Message edited 9/8/2010 8:50:29 PM.
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| Posted 9/8/10 8:46 PM |
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VickiC
Rocking the party
Member since 5/05 4937 total posts
Name:
Vicki
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Re: appraisal vs purchase price
Ours appraised for $15k more than what we paid.
What it's appraised for now is a different story though!
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| Posted 9/8/10 9:03 PM |
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CaMacho
Sisters :)
Member since 7/06 15112 total posts
Name:
Jess
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Re: appraisal vs purchase price
Ours appraised for about $100k more (2 years ago)... but we bought a foreclosure in FL.
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| Posted 9/9/10 8:52 AM |
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Nifheim
allo
Member since 1/09 5476 total posts
Name:
Jennifer
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Re: appraisal vs purchase price
we paid 85K less then the appraisal
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| Posted 9/9/10 9:20 AM |
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smooney
Hidey Ho!
Member since 2/10 1669 total posts
Name:
.
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Re: appraisal vs purchase price
only $1K more 
but have since increased our value by $10-15K in 2 months
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| Posted 9/9/10 5:13 PM |
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JDubs
different, not less
Member since 7/09 13160 total posts
Name:
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Re: appraisal vs purchase price
Posted by staceyums81
it was 5k more than what we paid for it...
us too
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| Posted 9/9/10 5:34 PM |
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TreAnt427
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Member since 8/06 8652 total posts
Name:
Tracy
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Re: appraisal vs purchase price
29k more
Just had it reappraised for a re-fi and it came in at 18k more (2 years later)
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| Posted 9/10/10 8:24 AM |
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Sweetlax22
LIF Adult
Member since 5/10 1904 total posts
Name:
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Re: appraisal vs purchase price
Our's was 10k less then what we paid, we are in a strange neighborhood where this is almost the norm so we didn't worry.
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| Posted 9/10/10 8:59 AM |
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maymama
my little loves
Member since 8/08 18453 total posts
Name:
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Re: appraisal vs purchase price
we purchased before the economy tanked (11/07) and we just appraised for re-financing. our appraisal came back 15k less than we purchased for   
however, its new construction and the builders are still asking 15-20k more than what we paid for people buying now? 
Message edited 9/10/2010 9:21:04 AM.
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| Posted 9/10/10 9:20 AM |
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