Buying A Home
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Asking price vs. appraised price

If you've already closed on your home/are going to close soon, what was your seller's asking price, and how close did the appraised price come to it?
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<a href="http://www.thenest.com/?utm_source=ticker&utm_medium=HTML&utm_campaign=tickers" title="Home Decorating"><img src="http://global.thenest.com/tickers/tt13829a.aspx" alt="Buying A Home" border="0" /></a>

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Re: Asking price vs. appraised price

  • Our seller's original asking price was 139,900 and the appraisal came back at 140,000.

    We ended up getting the house for 137,900 (no closing assistance). 

  • Our seller's asking price was $415,000, we offered full price (we're paying most of the closing costs), and the appraisal came in right at our purchase price.
  • Seller's asking price was $189k (after dropping from $234k), appraisal came at $195k. We got the house for $180k. 

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  • Asking $400K (down from $420K)

    We're paying $412K (getting $12K back for closing)

    It appraised for the $412K. 

  • Our appraisal came in just shy of $20K more than we paid.
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  • Listed for $285,000. Final offer was $280,000 + 5% for closing costs. Appraised for $277,000 and didn't pass the appraisers inspection so they had to completely fix the dismantled HVAC system and broken window locks. They lowered the price, paid about $10k to fix everything and we closed.
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  • Asking Price - 125k

    Appraisal Price - 115k

    I am paying 115k with 6900 in closing costs.

  • The asking price was 210,900 after dropping from 225,900. The appraisal came in at 205,000.
  • What do you  do if the home comes in appraised less than the asking price? Re-adjust your offer?

    Our home is being sold as-is, the seller to do no repairs. Which is why I am stressing about the appraisal. 

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    <a href="http://www.thenest.com/?utm_source=ticker&utm_medium=HTML&utm_campaign=tickers" title="Home Decorating"><img src="http://global.thenest.com/tickers/tt13829a.aspx" alt="Buying A Home" border="0" /></a>

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  • image Leila'sMommy:

    What do you  do if the home comes in appraised less than the asking price? Re-adjust your offer?

    Our home is being sold as-is, the seller to do no repairs. Which is why I am stressing about the appraisal. 

    Ours was "as is" too. We threatened to walk when things came in below satisfactory and they met our demands.
    image
    After 31 cycles and two losses, we've been blessed with a healthy baby girl!
    Congrats to both of my amazing TTC Buddies, tdmd09 and sb2006!!
    Life of Amberley
    image
  • image Amberley18:
    image Leila'sMommy:

    What do you  do if the home comes in appraised less than the asking price? Re-adjust your offer?

    Our home is being sold as-is, the seller to do no repairs. Which is why I am stressing about the appraisal. 

    Ours was "as is" too. We threatened to walk when things came in below satisfactory and they met our demands.

    That's good to know. I am so worried something will come up and then we've invested $300 in the home inspection + $510 for the FHA appraisal and it will all be money down the drain if something pops up. I do hope the seller would be willing to work with us.... we've been at this since the end of January and he is ready to move out asap (short sale).

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    <a href="http://www.thenest.com/?utm_source=ticker&utm_medium=HTML&utm_campaign=tickers" title="Home Decorating"><img src="http://global.thenest.com/tickers/tt13829a.aspx" alt="Buying A Home" border="0" /></a>

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  • Our house was originally listed for $580k, they dropped the price to $560k. We ended up negotiating down to $530k with no closing cost assistance as that isn't common here. Our appraisal was exactly $530. 
  • Ours was listed at 370 negotiated down to 338 then the appraisal came back at 328. The appraisal was poorly done comparing our house to ones 1000 square feet smaller, but we paid 328. 

  • Edited by moderator.

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