How does someone get an honest, unbiased evaluation of a property ? It seems that Realtors will skew their results on the high side in order to get a listing with the hope of a larger commision. Do independant appraisers, from a bank or an insurance company, really do anything differently from a Realtor that will result in a more balanced outcome ? Is a paid-for, independant appraisal really worth the fees ?
A friend is trying to buy out the house from her ex-husband, but they are tens of thousands of dollars apart. Two different Realtors appraisals favored the lower-to-mid range but were themselves quite a bit apart. This has been going on for some time, way before this current economic mess we're in. A call to an independant appraiser was shocking in that she punched up Zillo.com ? while on the phone and used that as a basis for her evaluation.
I suspect that now, with the current economic situation, that the original appraisals might be optimistic. IMHO, from being in the building trades for over twenty-five years, there are so many things wrong /in need of attention with the house that even the lower appraisals seem too high, although it is in an excellent location ( which is why my friend would like to try to stay there )The Realtors all tell her to spend the money to do all the repairs and then list it high, but that isn't an option. Any thoughts ?
A friend is trying to buy out the house from her ex-husband, but they are tens of thousands of dollars apart. Two different Realtors appraisals favored the lower-to-mid range but were themselves quite a bit apart. This has been going on for some time, way before this current economic mess we're in. A call to an independant appraiser was shocking in that she punched up Zillo.com ? while on the phone and used that as a basis for her evaluation.
I suspect that now, with the current economic situation, that the original appraisals might be optimistic. IMHO, from being in the building trades for over twenty-five years, there are so many things wrong /in need of attention with the house that even the lower appraisals seem too high, although it is in an excellent location ( which is why my friend would like to try to stay there )The Realtors all tell her to spend the money to do all the repairs and then list it high, but that isn't an option. Any thoughts ?