Never put blind faith into an appraisal

Never put blind faith into an appraisal

On many occasions I have looked at a home and a realtor has used this sales technique that is not really the whole truth.  They will say that we have this home priced 20,000 below appraised value.  I see it alot in the home buyers guides in the town I am currently living in.

What the professional is told is that if they work the appraisal to their advantage then sell the home below appraised value. By using this technique an unaware buyer would believe that they are getting a deal when they arent.

Two keys you should know about appriasals

1. The appraisal has a value for one date only.  Thats right if you are in a hot market where houses are being bought and sold even an appraisal that is a month old is not accurate.
2. Appraisers dont measure value.  AN APPRAISAL DOES NOT CERTIFY VALUE

One last thing that I need to share is being aware of the total opposite.  Thats right appraisals can come in to low. For example if you were buying a house and have agreed on a price.  The lender may ask for it to be appraised.  If the appraisal comes in lower than the sale price you may be asked to go back to negotiation or pay a higher down payment. Most buyers do not agree to either and this is a big reason financing falls through.

Thank you for coming to my site.

Buying a home for the first time can be scary

Hi and welcome to my blog.  I dont want to scare you with the headline instead I want you to make sure to come back here often as I continue to add content about the process of buying a home.

First off my name is Scott Schulte and I am a blogger on the net and do marketing both on and off line.  

Then one day while I was working I was thinking about the early morning I had been up and saw Carlton Sheets and he passed the torch now to Dean Graziosi.

What I came to me was that most of the time these two guys are selling to people who have never bought a home before.  So what happens, I know from experience you get the stuff your excited and you run to your nearest realtor tell them that you want to buy a duplex and you want to buy it with out any money and alot of them almost laugh at you.

Then you go to a bank and tell them you want them to give you a loan for 100% of the financing and they told me 10 years ago you are kidding right.  Now with the credit melt down I am sure its worse.

The problem is you dont know what you dont know.

Its that simple you dont know how to buy a duplex because you have never ever bought a single home before.  That is where I am going to help you out.  I am going to walk you through step by step.  My intentions are also to have some video so that you know what to expect when you are buying your first home ok.

Please Make sure to click on the orange RSS feed on the side of my blog so that you get updates when I send them out and go ahead and me up on twitter twitter.com/schulte95