In need of Home appraiser

[LXtasy]

I am in the need of a home appraiser. PREFER one that is FHA approved, and does fha 203-k rehab loans also. I am narrowing the home searches down to a handfull of homes and of course I am wanting to get one before I do a contract on a home.

Of course, if I can get a "discount" on say 2 in a neigborhood that would be great.

Thanks in advance
Hal

















Are we allowed to ask this question on a "horsepower board"? lol

[WWhittle]

I am in the need of a home appraiser. PREFER one that is FHA approved, and does fha 203-k rehab loans also. I am narrowing the home searches down to a handfull of homes and of course I am wanting to get one before I do a contract on a home.

Of course, if I can get a "discount" on say 2 in a neigborhood that would be great.

Thanks in advance
Hal

















Are we allowed to ask this question on a "horsepower board"? lol



normally you would put a contract on a house contingent on appraisal. make an offer you are comfortable with and if the appraisal comes in lower than your offer, your contingency is either your way out, or your negotiating tool to have the seller lower the price to the appraised value.

[LXtasy]

I understand that much. BUT, I rather not have 5 contracts out on homes right now.

Plus, with the rehab loan I am wanting to make sure I can do it with the set price of how much I can put in towards the house instead of wasting my everyones time.

Plus, most of the homes are banked loaned.

I do know the process I am suppose to go. But doing this step first.

[WWhittle]

I understand that much. BUT, I rather not have 5 contracts out on homes right now.

Plus, with the rehab loan I am wanting to make sure I can do it with the set price of how much I can put in towards the house instead of wasting my everyones time.

Plus, most of the homes are banked loaned.

I do know the process I am suppose to go. But doing this step first.


why not just pick your favorite house and make an offer that you can afford and then get an appraisal. If it doesn't work out, move to the next. The way you are describing it, you are going to get an appraisal on 5 houses and then make your offer- but if i had to guess, you are still going to make your offer on your favorite house. why not save the money on the appraisals and only get them if you NEED them.
not trying to be a dick, but i have done this a bunch of times and can tell you that you are doing it ass backwards. i assume you don't have an agent or you would have already been talked out of doing it your way.
either way, good luck- it's a good time to buy.

[LXtasy]

I do have an agent. I just don't feel like wasting earnest money.

[jay_99z]

I do have an agent. I just don't feel like wasting earnest money.


I agree with streetsweeper.


You don't need to waste your money on earnest money either. It's not like it was a few years ago. You really don't have to worry about someone putting in an offer on your second or third choice. There are way too many houses on the market right now. Shit isn't selling.


I'm not trying to knock your agent but......a CMA should get you damn close to the appraised value. If the agent can't get you a good price in this market.....time to move on.

[perm102]

Jr. I agree with them too. Put the contract on the house you want and then do the appraisal with a way to get out or negotiate if it is lower. Also, make sure that you have it inspected with a way out too if it isn't what it is supposed to be. Jay is right, way too many houses to choose from now.

[WWhittle]

I do have an agent. I just don't feel like wasting earnest money.


earnest money is refundable, so you won't be wasting any. if you put a contract on a house with contingencies and one of the contingencies is not met, you can get out of the contract and the earnest money is refunded to you. that is why the earnest money is held in an escrow account.

[LXtasy]

Ok, I have wanted to put a contract on a home and there was already over 7 offers on it within 24 hours, this has happened to me on atleast 9 houses within the past 2 weeks alone.. Right now, problem I am seeing is homes that I really like if i do not act fast they are GONE.

She has done the CMA on it. But fluctuates from one extreme to the next.

I am sorry I am doing way ass backwards. BUT I guess I will not worry about it until I put an offer down on the house and that being part of the contingency.

Just that at times I am also fighting with investors who are willing to pay asking price sight unseen and go from there. I don't have that money. Probably because I am not voting republican and am not "equal" to the rich man.


Sorry. :D

[jay_99z]

Ok, I have wanted to put a contract on a home and there was already over 7 offers on it within 24 hours, this has happened to me on atleast 9 houses within the past 2 weeks alone.. Right now, problem I am seeing is homes that I really like if i do not act fast they are GONE.

She has done the CMA on it. But fluctuates from one extreme to the next.




1) I think someone is BSing you. Could be the selling agent. Or....maybe you are just very unlucky. Getting 7 offers on all those houses with the market the way it is. Most Realtors/sellers would love to be that fortunate. Where the hell are you looking?

2) What do you mean flucuates from one extreme to the next? The houses are either worth it or not. I reallize things are going slow so you may not be able to pull up too many of the recent sold houses but she should be able to get you a price to make an offer. If she can't do that without an appraisel...GET RID OF HER. The appraisel should just be a formality and one of last steps need to finish the loan.

I mean....what are you paying this person for? As a buyer you are in the drivers seat right now. Something isn't adding up. You can't get a good enough CMA to put in an offer and if you do.....there are 7 already there?


It really doesn't matter if there are 7 offers anyway. Get a good CMA, put in an offer, and see if it gets accepted. Put a 24 or 48 hour expiration date on it. If it's rejected...move on. You get your earnest money back. It's going to take longer (most times) to get an appraisel done than to get an answer on your offer. If it turns into a bidding war.......move on.

There are too many damn vacant houses out there right now.

[WWhittle]

are you trying to scoop up a foreclosure? if so, you must be moving too slow. even in this shitty market, you have to act fast if you are targeting foreclosures.
either way, hang in there, you are going to get a good deal.

[LXtasy]

I can show you 3 houses EASILY there orginal listing date and the day we went and looked at it and then when it sold. Many homes are selling within 1 month right now. Mind you I am not looking at 200k+ homes. I am looking in up to 150k area and many people are buying them up fast. Some homes wes are foreclosures but man, I see it listed today and look at them once during the week and/or on the weekend. We talk it over and Monday there is normally a decent amount of offers on the home. I will NOT take part in that bidding war.

One home I am really looking at has been on the market since February, but it needs 9k in subflooring done and might just hold off on that one.

But as far as firing my realtor, why? this is me wanting to do it first not her.

Jay some of the CMA go from $63 sqft to $109+ sqft. And if I made a bid per what a similar house in the area sold for would be hard as some need no work to atleast 25k worth.

But its ok, I will just let me realtor do the work and not worry about getting involved. My lender can get me an appraisal there BUT I still have to pay for that and was given an option also to find one myself to maybe save some money instead of one they would provide. Commonsense. SAVE MONEY.

But thanks anyways.

[WWhittle]

I can show you 3 houses EASILY there orginal listing date and the day we went and looked at it and then when it sold. Many homes are selling within 1 month right now. Mind you I am not looking at 200k+ homes. I am looking in up to 150k area and many people are buying them up fast. Some homes wes are foreclosures but man, I see it listed today and look at them once during the week and/or on the weekend. We talk it over and Monday there is normally a decent amount of offers on the home. I will NOT take part in that bidding war.

One home I am really looking at has been on the market since February, but it needs 9k in subflooring done and might just hold off on that one.

But as far as firing my realtor, why? this is me wanting to do it first not her.

Jay some of the CMA go from $63 sqft to $109+ sqft. And if I made a bid per what a similar house in the area sold for would be hard as some need no work to atleast 25k worth.

But its ok, I will just let me realtor do the work and not worry about getting involved. My lender can get me an appraisal there BUT I still have to pay for that and was given an option also to find one myself to maybe save some money instead of one they would provide. Commonsense. SAVE MONEY.

But thanks anyways.


where are you looking? if houses are selling like hotcakes around there with bidding wars going on i want to come buy a few and flip them.

[LXtasy]

s'ville area. But of course, you would be one more person i would be bidding against. lol

[jay_99z]

Jay some of the CMA go from $63 sqft to $109+ sqft. And if I made a bid per what a similar house in the area sold for would be hard as some need no work to atleast 25k worth.




I still stand behind what I said. If she can't make a good offer without an appraisel......get rid of her. :mrgreen: Can't always go with price per sq ft around here.


But hey...enough bashing. Good luck to you!


I agree with Wes.....I'd take a couple of those properties! Most times when you bring up stuff it's been on the market for 5 or 6 months.

[LXtasy]

MOST of the time is the key word. Why would I have my realtor make the offer for me? I am the one buying it not here anyways. It is what I feel COMFORTABLE paying for not her.

Thanks Enough of this.