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Should I get an appraisal as a cash buyer?
Is it a good idea to get an appraisal even if I'm a cash buyer? Thanks.
Asked By Chin | San Jose, CA | 1012 views | Buying | 2 years ago
Answer(4)
Lisa and Greg Harris
eXp Realty, LLC
Depending on how your contract is written with your local Real estate expert, it could be a condition of the contract. Not required. However, I will say it depends on the circumstances. Sometimes it is as simple as a home is worth what someone is willing to pay for it (within reason) So if it is to help you determine the value of what you are buying go for it. A local REal estate Expert can help guide you to determine if this is right for your situation.
- 1 year ago
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Joanne Patience
Iron Valley Real Estate North Florida
Yes, it is highly recommended. The appraisal can save you time and money in the long run. It will show if the asking price aligns with the property values for fair market value. A Realtor can provide comparables to support your asking price, but the appraisal is more in-depth and shows an accurate picture of what is happening; what happened six months ago, etc.
- 1 year ago
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Michelle Hatfield
EXIT Royal Realty
Yes, it can still be a good idea to get an appraisal even if you are a cash buyer. An appraisal can help you determine the fair market value of the property you are interested in, which can be useful in negotiating the price with the seller. Additionally, an appraisal can also alert you to any potential issues with the property that may affect its value, such as needed repairs or zoning restrictions. This information can help you make an informed decision about whether the property is a good investment for you.
- 1 year ago
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Steve Meyers
eXp Realty of California, Inc.
I agree with Michelle. Especially if you are concerned with the purchase price of what you are paying for the property. Your agent can always run sold comps but an appraiser is going to give you a more accurate valuation.
- 1 year ago
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