Not exact matches
HUD homes for sale will typically already have an
appraisal on the property so any offer over the HUD
list price will probably also be over the current appraised value and then «cash would be required
at closing» to make up the difference.
We are now
at the end of escrow with one hurdle left... the appraiser has to clearly let the lender know why we are purchasing this house for so much more than the
listing price (Countrywide would not accept our first offer @ 70k less than the appraised value) but our offer was accepted
at 25k less than the
appraisal.
An MSI of 2.3 months would certainly encourage us to move higher on our
listing price, although there are still a handful of other factors we look
at, like: «Days on Market», «
List to Sold Percentage» as well as trends in the
appraisal industry.
A seller can offer for sale a property
at whatever asking
price one wants, and a registrant can
list same, no matter what any
appraisal that has been commissioned by anyone, strictly on the basis of establishing current market value for the purpose of sale (not mortgage financing) suggests as being current market value.
After a
list price is established by a third - party
appraisal, the ERA agent then starts to actively market the property, with the goal of selling the home
at the highest possible
price within six months of
listing.
Our agents are trained in regard to
pricing listings with
appraisal adjustments to help justify the
price at the time of
appraisal.
They elected to keep both their
appraisal and loan contingencies, however, and the
listing agent noted that the winning offer was completely non-contingent and
at a significantly higher
price.
Bronson v. Algonquin Lodge Assn., Inc. (295 A.D. 2d 681)-- broker entitled to commission where broker establishes that owner agreed to sell its property
at the full appraised value and that broker produced a ready, willing and able purchaser
at the
price set forth in a formal written
appraisal of the property; owner, a not - for - profit corporation, fails to establish that the
listing agreement violated either its constitution or Not - For - Profit Corporation Law § § 509 and 510 which govern the sale of real property, not the execution of the
listing agreement
Filed Under: Market Trends Tagged With: anemic inventory,
appraisal blog, appraiser in Sacramento, Downtown Sacramento, high
list prices, low housing supply, low inventory, luxury, market stats, Median
Price in Sacramento, Midtown Sacramento,
pricing too high, sacramento housing market, Sacramento Market Trends, sacramento regional market update, soft top of market, The Residences
at The Sawyer, The Sawyer, trend graphs, values increasing
As for the Nashville market, we're
at a point where investment properties are regularly selling above
list price or
appraisal value.