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julybride0706
LIF Adult
Member since 3/07 1376 total posts
Name:
kaitlyn
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sorry...1 more question..on making an offer
i found a house i kinda like and was also able to find the assessed value online. the listed price is almost 75k more than the assessed value. when making an offer, i MUST stay close to the assessed value right? understand that bank may not give mortgage more than assessed amt.
sorry for the dumb question. i need some guidelines  i'm just so afraid that i fall in love with a house and end up paying more than i should.
any advices from homeowners will be great 
Message edited 1/8/2009 4:22:27 PM.
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Posted 1/8/09 3:55 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource | Prudential Douglas Elliman Real Estate |
TheLorax
LOVE
Member since 2/06 5581 total posts
Name:
Suzanne / SuzBride
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Re: sorry...1 more question..on making an offer
It depends on where you are getting the assessed value from online. Some online sites have very conservative assessed values. What is key is the appraisal you get from whatever appraisal company you hire. You don't want that appraised value to be less than what you are paying.
I think most sellers list their houses for more than they are expecting to get. This is a buyer's market, so very few buyers will offer list price, so I think many sellers consider that when listing their houses.
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| Posted 1/8/09 4:23 PM |
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rkoenke
my little piggys
Member since 3/08 4315 total posts
Name:
rachel
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Re: sorry...1 more question..on making an offer
Posted by TheLorax
It depends on where you are getting the assessed value from online. Some online sites have very conservative assessed values. What is key is the appraisal you get from whatever appraisal company you hire. You don't want that appraised value to be less than what you are paying.
I think most sellers list their houses for more than they are expecting to get. This is a buyer's market, so very few buyers will offer list price, so I think many sellers consider that when listing their houses.
RIGHT! appraised value is not the same as assessed value. from what i know, the nassauproperty information is not relative to what the home is worth anymore... if that is the site that you are using.
GOOD LUCK!
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| Posted 1/8/09 4:27 PM |
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julybride0706
LIF Adult
Member since 3/07 1376 total posts
Name:
kaitlyn
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Re: sorry...1 more question..on making an offer
Posted by TheLorax
It depends on where you are getting the assessed value from online. Some online sites have very conservative assessed values. What is key is the appraisal you get from whatever appraisal company you hire. You don't want that appraised value to be less than what you are paying.
I think most sellers list their houses for more than they are expecting to get. This is a buyer's market, so very few buyers will offer list price, so I think many sellers consider that when listing their houses.
thanks...i found it on nassaucountyny.gov.
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| Posted 1/8/09 4:28 PM |
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julybride0706
LIF Adult
Member since 3/07 1376 total posts
Name:
kaitlyn
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Re: sorry...1 more question..on making an offer
Posted by rkoenke
Posted by TheLorax
It depends on where you are getting the assessed value from online. Some online sites have very conservative assessed values. What is key is the appraisal you get from whatever appraisal company you hire. You don't want that appraised value to be less than what you are paying.
I think most sellers list their houses for more than they are expecting to get. This is a buyer's market, so very few buyers will offer list price, so I think many sellers consider that when listing their houses.
RIGHT! appraised value is not the same as assessed value. from what i know, the nassauproperty information is not relative to what the home is worth anymore... if that is the site that you are using.
GOOD LUCK!
oh really? that s*ucks. is there a big different?
yeah..it's nassauproperty.
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| Posted 1/8/09 4:41 PM |
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happytobreathe
The Lazy Days of Summer
Member since 10/06 1413 total posts
Name:
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Re: sorry...1 more question..on making an offer
I just wanted to say good luck. Keep us updated!
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| Posted 1/8/09 6:00 PM |
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Goobster
:)
Member since 5/07 27557 total posts
Name:
:)
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Re: sorry...1 more question..on making an offer
Posted by julybride0706
i found a house i kinda like and was also able to find the assessed value online. the listed price is almost 75k more than the assessed value. when making an offer, i MUST stay close to the assessed value right? understand that bank may not give mortgage more than assessed amt.
sorry for the dumb question. i need some guidelines i'm just so afraid that i fall in love with a house and end up paying more than i should.
any advices from homeowners will be great
\
Assessed value is NOT true market value. You cannot make a bid based on that b/c that is not based on anything other than other homes of comparable sq footage. It takes no account of what is inside hte home or other aspects that would make it desirable in that neighborhood. What the bank will give you is another story though. Just keep in mind someone else can easily outbid you if they aren't worried about what the bank will appraise the house at (let's say they don't need a loan to fully cover the house).
Message edited 1/8/2009 7:12:26 PM.
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| Posted 1/8/09 7:08 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: sorry...1 more question..on making an offer
base your offer on recent comps and what YOU think is a fair price.
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| Posted 1/8/09 8:01 PM |
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julybride0706
LIF Adult
Member since 3/07 1376 total posts
Name:
kaitlyn
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Re: sorry...1 more question..on making an offer
Posted by Meaghan729
base your offer on recent comps and what YOU think is a fair price.
that's the problem..there is no recent comps for new constructions around that area. the last sale was back in apr 08. so i don't know.
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| Posted 1/8/09 10:09 PM |
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