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Old 02-09-2012, 07:05 PM
 
Location: plano
7,898 posts, read 11,458,656 times
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Quote:
Originally Posted by shah123 View Post
I already use a service like this for my primary residence. But since for this newly bought foreclosure property, the difference between the appraised value and my purchase price is huge, I was trying to get this done myself for this year. The huge difference in the price makes the efforts well worth it. After this year I will hand it over to that service provider.

I guess it is time to have my realtor run comps. I was gonna do that anyway, but I was just wondering if HCAD officially accepts the foreclosure purchase price as the new appraised value. Then I wouldn't have to worry about collecting the comps etc.
Appraised value must include condition so the point about on condition is valid if that helps you explain a lower value is market because of relative condition of the home versus others in the neighborhood or comps
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