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Reply to "Agent urged us to underprice our house now we regret it"
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[quote=Anonymous][quote=Anonymous]I don't mean to derail this thread, but I have a question for sellers out there. Why do people not seek an appraisal of their homes (would cost about $500 I assume) rather than rely on their real estate agent's assessment? I am asking because when we bought our current place, we were willing to pay about $15k-$20 more than what the agent recommended. The seller's agent was also his spouse, and the home was initially way overpriced. They had to lower the price two or three times, and have a sale fall through before they accepted our agent recommended "low ball" offer. The bank appraised the home at about $15k more than we signed the contract for. This makes me think that I'd rather fork out a few hundreds when the time comes to sell than potentially leave money on the table.[/quote] Usually it is based on comps. Almost every home I have bought the appraisal comes in at the homes sale price or 10k or 15k higher. [/quote]
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