Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

help in selling my home?

An interested party wants to know the appraisal of our home, which is ridiculously low, due to the poor economy. I'm afraid to tell them the figure.How can I handle this so I don't lessen the worth of the house ?

5 Answers

Relevance
  • ?
    Lv 5
    1 decade ago
    Favorite Answer

    I know it is a real bummer what we are going through with the values of home but I would have to advise you to go ahead and tell the buyer what the appraisal cwame out to. You can do that in a way to open up the conversation to "what a great deal you are getting."

    They are going to find out some time or another and it always better to tell the truth.

  • 1 decade ago

    Explain that an appraisal is a private document and you would rather not release the results. Keep in mind that an appraisal is "an opinion of value" based on the market data of similar properties by one individual appraiser. If the interested party makes an offer which you accept, and if they chose to use a lender, another appraisal will be done and it could be different. So you have to choose whether to tell them or not.

  • 1 decade ago

    Finding the value of a home is very easy today because of the internet. One very popular website is zillow.com.

    If the person buying your home is getting a mortgage the deal could fall apart because the lender is going to do an appraisal. Appraisal are coming in very conservative today. I know everyone wants the highest value but if you want to get more money for your home I would recommend staying where you are until values come back.

    OR

    Below is a link for 8 tricks to create curb appeal.

    http://fullsailcurbappeal.blogspot.com/

    Below is another link for 20 ways to get your home ready to sell.

    http://fullsailhomeforsell.blogspot.com/

  • If they end up buying your house, they will need to have an appraisal done as part of their mortgage. If the appraisal comes in lower than the agreed upon selling price, they will not be able to get the financing. If you know that the current appraisal is less than your asking price, you should adjust it accordingly.

    Source(s): I am a real estate agent.
  • How do you think about the answers? You can sign in to vote the answer.
  • 1 decade ago

    They will have to have it appraised in order to get their loan complete if they decide to buy it anyway. You can tell them, but tell them that it is an older appraisal - appraisals aren't "good" for very long. It's not your job to tell them this.

Still have questions? Get your answers by asking now.