Under contract with a house in the tri-state area and waiting on appraisal report. We went $50k over ask which is common in the current market. Curious what others have seen in regards to appraisals. Higher, lower, right at offer?

like
Posting as :
works at
You are currently posting as works at

Your realtor should be able to find comps in the area to reference against your price. That will be the best indicator of how your house will appraise. I was $50k over and the house was in original condition and my realtor was concerned, but it appraised higher than the offer. Sometimes it do be like that

likehelpful

Ah yeah best of luck! Take a look at the first time home buyers subreddit as well, a lot of people talk appraisals there, but the consensus I’ve read is that things usually appraise

helpful

I offered $625k on my house listed for $675k. Seller countered for $655k. Appraised at $663k.

uplifting

Appraisals are a craps shoot. You will get 3 different numbers from 3 different appraisers, and there’s little to no recourse once you get the number.

Plan to cover an appraisal gap, and hope for the best.

like

One time I stuck a for sale sign in my front yard, no seller agent, no appraisal. I paid a few hundred dollars to be placed on MLS. I best guessed it’s value. I got a buyer 2 weeks later. It appraised 5k under my asking. The buyers tried to renegotiate, I said no. I accepted your original offer without a contingency of appraisal. They paid the amount over the appraisal. I did pay the buyer agent 2.5% basically so they wouldn’t steer their buyer somewhere else. It was more like a bribe. The buyer agent was absolutely useless in the transaction, and especially in negotiating.

Or….if it doesn’t appraise, use that information to negotiate a lower purchase price.

Before the smart people on fishbowl say “you won’t be able to / the seller won’t accept that” … it’s happened to me so I speak from experience.

If it doesn’t appraise, they will end up in the same situation unless they find a cash buyer.

I went 30k over with no issues but couldn't have gone any higher appraisal came in only 1500 more. I think appraisers know you have to go over and I was told they are more concerned with the condition of the house.

Related Posts

Virtusa vs Tech M
Same CTC .
Yoe 5.1

Which one to join?

like

Hi All,
I interviewed for infosys today and the interview went pretty well, they haven't talked about compensation yet does anyone know the salary of Associate Business Analyst?
Or what can I ask them?
Any suggestions?

like

Hi Infosys guys, I have cleared one technical interview and got email for further round which is planned for tomorrow. Email mentions that this is a telephonic interview, is this supposed to be an HR round discussing salary or another tech round.

SAP SD - 2 YOE Current CTC is 4.8LPA.

how much should I ask at infy? Position offered is associate consultant. Thanks in advance.

like

What is the max package we can ask for band 8, informatica background? Have 1 yr exp on snowflake cloud as well. Total exp 12.

completed technical and behavioral interview with deloitte for QA Solution architect, what would be the next steps? what's the typical pay for this role, please advice, urgent

Hi fishes may you please confirm the below:

In the offer letter the "Provident Fund" And "gratuity" Is mentioned. In the salary calculation in hand, we will not consider these amounts right? As these components are received when someone retires..right? .. Please confirm.

Thanks in advance

like

Can anyone share the salary calculation/negotiation process when one moves on from offshore (India) to onshore (UK)?
Specifically at manager level?
Thanks in advance.

Hi All, I've been offered a 10.7LPA by TCS. What will be my take home monthly and the take home on a variable payout month? Approx value is good.

TIA

I am joining on 22 july. Please let me know whether july salary will come on month end or it will come in next month end with aug salary.

like
like

Hi, How is the 1) PwC Sdc WLB in bangalore 2) Average hike 3) Shift allowance Morning/Afternoon/Night allowance PwC India PwC India
Thanks

like

What should I expect salary wise as S1 in FDD Philly area?

like

Anyone here in Amsterdam or know their salary range for a Exec Producer level role? I’m in NYC now - I assume I’ll take a HUGE pay cut. But how much? 🤔

like

I joined Wipro on Feb 2022, Am i eligible for hike this time?

like

Hi Fishes

Does EY GDS give 10% Variable and EY India give 20% variable?

like

Hello Friends,
Can an employee get Promotion or hike during Notice Period ?

Thanks in Advance for the answer.

like

How much would a CD earns in an Singaporean agency?

Is $84K base for audit senior 1 in Seattle considered okay?

helpful

Anybody heard or worked in centelon ?
How's the experience in sales force practice there ?
What's salary range a 3.5 exp2 sfdc person can expect ?

like

What is average salary for Test Lead in Netherlands with 9 years of experience

More Posts

Had an interview today for etl expert role in Capgemini.Have Cleared 1st round and the next round is techno-managerial round. Anyone can share experience of that round?

Does LTI provide reimbursement for WFH setup ?

like

Hi, offer coming through from AWS - is there scope for negotiation with them, or is the offer just the offer?

like

Corporate Development M&A Comp, WLB, etc.. at a big Shop (Blackrock, Blackstone)

like

Has anyone tried AdvisoryCloud ?? Is it worth it ??

like

Is TailorBrands worth the hype??? Someone who used it lmk some pros and cons please.

I cleared the interview of Tech Mahindra and got mail to submit the documents.

I have 6.7 years of experience in a niche technology. Current package is 14.5lpa.
My interview went good.

How much should i ask for ?
And, will i get the offer after i submit the documents?Tech Mahindra

Life insurance agents!! I’m in the process of getting licensed now, what are some tips you have for me just starting out ? How long did it take for you to start selling? I’ll be doing telesales only , let me know your way of selling and why it works best for you. Thank you !

like

Any platform which lets you trade options after hours?

like

Am I the only attorney who half ass works all day and then when they know their boss has clocked off sigh relief and start working through the night??

likefunny

Curious to know what other firm's bonus structures are, particularly those with billable requirements of 1900 and below. Trying to understand what the norm is and figure out if associates at my firm are getting screwed. thanks

like

How does one use 500 Mile Upgrades on AA In the most effective manner?

like

So is it just me or do people who have been doing ID for decades generally fall into one of two groups? The first group are cynical people who have been divorced, their kids hate them, etc. then the second group are BS artists who are skilled at avoiding both work and responsibility for anything?

likefunnyhelpful
like

I have 5 years of work experience with equal experience in Data Engineering and DevOps. Now I am thinking to focus on a particular area. Can someone suggest me which one will have more scope in future. I am equally interested in both.

like

Anyone knows how to get reinvent tickets?

like

Can anyone please provide info regarding which healthcare(a pharmaceutical company) infra project is there in gg v cyber city location?

like

Such an amazing experience seeing my plants grow! Propagation was a SUCCESS!!

Post Photo
like

I'm a Canadian on the TN visa working in the US and planning on maxing my Roth IRA (6k) and will have enough left to max my 401k this year, but am not sure if I should just use a taxable account over 401k due to tax considerations when I move back to Canada (likely 1-2 years from now). Any thoughts here? I don't think I'll have enough RRSP room to move 401k>IRA>RRSP and I would prefer to not have to file US taxes every year in retirement for withdrawls if I left the 401k in the US.

like

Additional Posts in The Real Estate Bowl

Please help! Do these fees look within normal range or are they too high? I am especially concerned about the title company fees!

Post Photo
like
like

Commercial real estate question. When a residential property will likely zone commercial in the coming years, do we, the owner, wait for a buyer/developer to contact us?

like

Anyone take the WI Real Estate state exam? Any tips on what to study?

like

Is it safe to buy new home now with high interest rates ,high home prices and recession in near future?

likefunny

Looking for an NJ store selling hardwood flooring that has a decent selection and not too lengthy delivery times.
Everyone seems to have a 4 week wait for hardwood. Any help is appreciated.

like

I really need recommendations. I want to replace the through-the-wall AC units in my condo. Anyone buy ones you really like? Or rent an apartment and are happy with your (newer) AC units?

Tried doing research online but reviews are all over the place. And would love firsthand recommendations.

like

I am considering putting down an offer for a TH in a community that has Mello Roos. It gets added to the property tax. I am looking at paying an additional 5-6k for that.

Online videos say it’s all good because the money gets invested in building the community .

any potential downsides? In terms of future sales and demand ? What am I missing?

like

Now that the rents are going higher and housing is not affordable. With wfh option is it good idea to love to ranch with house?

Anyone here invested or opted as primary living place outside of cities?

Cheers

like

Hey everyone, curious about pros/cons and profitability of renting out a unit long term vs AirBnB. Let’s say it’s a condo downtown in a big city, how do you figure out what’s the better option?

like

Under contract to buy my first home - house hacking a triplex. Property has been leased by the same three tenants for the last 5+ yrs, rents haven’t been raised since they moved in. Market rents have risen 70-100% in the same timeframe. All seem like ideal tenants (retired and take great care of the units) but I’d like advice on how to approach the rent increase conversation. Rents don’t make/break my mortgage payment but I’m leaving a lot on the table if I don’t increase significantly.

like

Happy Holidays fishes!! I would love to hear some thoughts here..We bought our first home last year for 316K ( starter home) in MCOL city. The value is now over 400K and I have an equity of over 150K. We are thinking of moving to a different state.Should we rent this place ($2400/month) and with recent refinance my mortgage will be $1600/month(inclu pay all) or sell it to pull out equity for the new home in a different state? FYI: we have over 100K in cash to down payment.

like

It’s a myth that renting is “throwing money away.” Maintenance of a property is expensive! I’m selling my place and I’ve never felt more free. I can use that money (~$5000/month) to invest even more.

likefunnysmart

Anyone punched out of state 4-10 unit apt building? How did you find the listing?

like

Does it make sense to refinance now? Current rate is 3.62, bought in 2019. About 480k left on loan. Need some suggestions.

like

What rates are people getting for condos? I’m thinking about selling my condo (I had 3.25%) but my realtor said that the rates are so high now that if I were to buy a similarly priced place, the monthly payment would be like $800 more. I’m bad at math, so I wanted to ask here to confirm this is accurate. Mortgage is around $700k

like

How long did it take you to purchase your first rental property once you started looking? I’ve been working with an agent for about a month with one offer not accepted, feeling discouraged

like

How did you get started with your personal investing in stocks? I am 26, F, have some money in savings, 401k, stocks and just started my own business albeit small. I’m extremely interested in real estate investing have been reading and listening to podcasts. Any advice?

like

I would like to learn more about development and real estate. Can anyone recommend any books or courses that you think are informative. Eventually I would like to own a few apartment buildings, but I know there is a lot I need to learn 1st. Any advice appreciated. 

like

Any investors in the woodlands Texas for single family homes, rent looks good as per Zillow , good school district and houses are still affordable compared to Dallas and Austin

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal